President Donald Trump was angry after a Supreme Court ruling showed he did not have the power to fire Federal Reserve Chair Jerome Powell. The Court’s decision, which was part of a ruling about removing officials from other independent agencies, said the relationship between the President and the Federal Reserve is special.
The Court pointed out that the Federal Reserve has a unique structure as a partly private organization with roots going back to the First and Second Banks of the United States. This difference, the Court said, makes the Federal Reserve unlike other independent agencies discussed in the same ruling, as reported by The Daily Beast.
