The U.S. Supreme Court has rejected former President Donald Trump's unprecedented attempt to remove Federal Reserve Chair Jerome Powell, marking a significant legal setback. In a 5-4 ruling, the court blocked Trump's bid to become the first president to remove a Fed official since the central bank's creation in 1913. The decision reinforces the independence of the Federal Reserve, a key institution in U.S. economic policy.
The court ruled that Trump lacked the legal authority to remove Powell, emphasizing that the Fed's leadership is protected by law. The ruling was delivered by a conservative majority, with Justice Samuel Alito writing the majority opinion. The decision was seen as a defense of institutional integrity against executive overreach.
Trump had argued that he had the constitutional power to remove Powell, claiming the Fed was part of the executive branch. However, the court rejected this claim, stating that the Fed operates independently and is not subject to presidential control. The ruling has been welcomed by legal experts and financial analysts as a safeguard against potential abuses of power.
