Trump v. Cook · ¶31

We see no such textual commitment. The statute provides that each member of the Board of Governors “shall hold office for a term of fourteen years . . . , unless sooner removed for cause by the President.” 12 U. S. C. §242. Whether a Governor should be removed, it is true, is a decision only the President can make (short of impeachment). But that does not mean that he may make that decision for any reason, or no reason. Even when a statute “delegates discretionary authority” to the Executive Branch, we have explained, our role “is, as always, to independently interpret the statute and effectuate the will of Congress subject to constitutional limits.” Loper Bright Enterprises v. Rai mondo, 603 U. S. 369, 395 (2024). Congress could of course afford the President the power to remove Federal Reserve Governors at will. Or Congress could exempt the President’s removal of Governors for cause…

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