Trump v. Slaughter · ¶252
Even assuming the majority is right that the Federal Reserve’s historical pedigree gives it a special place in the constitutional structure, that just leaves the majority with yet additional workability problems. How close is close enough for a historical analogue of this kind? Does any agency that “influence[s] monetary policy” qualify? Ibid. Is it relevant that the modern agency, like the Bank of the United States, is “quasi-private”? Wilcox, 605 U. S., at ＿＿＿ (slip op., at 2). What happens if Congress adds new functions beyond the historical baseline? See, e.g., 12 U. S. C. §504 (granting the Federal Reserve authority to secure civil penalties of up to $1 million per day); see also A. Bamzai & A. Nielson, Article II and the Federal Reserve, 109 Cornell L. Rev. 843, 863, 887 (2024) (describing executive powers of the Federal Reserve). In short: When, exactly is our law “‘trapped in…Read in context ›
slip opinion, revised 7/07/26
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