The Supreme Court's 'Chevron' ruling is an existential threat to the 'American economic miracle' and will make the U.S. more like Europe, Lazard chair says

Supreme Court Chief Justice John Roberts (Credit: Alex Wong—Getty Images)

The Supreme Court's decision last month to overturn a decades-old decision that gave regulators more leeway to set rules will harm innovation and threaten U.S. economic vitality, according to Lazard's Kenneth Jacobs.

In an op-ed for Project Syndicate, the executive chairman of the financial advisory and asset management firm said the top court's ruling in Loper Bright Enterprises et al v. Raimondo, Secretary of Commerce is actually anti-business, contrary to conventional wisdom.