The Supreme Court has issued rulings impacting the independence of federal agencies. A 5-4 majority affirmed that Fed Governor Lisa Cook cannot be fired by President Trump for now. This decision strongly defends the Federal Reserve's independence, particularly regarding monetary policy. Chief Justice John Roberts stated that Congress limited presidential removal powers for Fed governors to ensure this independence. He emphasized that any changes to this scheme should come from Congress, not the courts. The ruling also highlighted that Cook was not afforded proper procedural protections before the alleged cause for removal was presented. Separately, the Supreme Court cleared the way for President Trump to fire leaders of the Federal Trade Commission. This decision overturned a nearly century-old precedent shielding officials at most independent agencies from presidential removal. Consequently, the White House will gain more influence over economic rule-making and enforcement in many areas. However, this increased presidential power does not yet extend to setting interest rates. Governor Cook believes her attempted removal was politically motivated, aimed at pressuring her on interest rate decisions. Trump stated the ruling was procedural and pledged to pursue her removal again.