Trump v. Cook · ¶59
It is true, of course, that this tradition has not stood still; as JUSTICE THOMAS notes, the Federal Reserve is more powerful than its predecessors, managing a vastly more complex economy in a vastly more complex world. See post, at 27.We see no reason, however, why our central bank ought to be “trapped in amber” any more than any other aspect of our constitutional scheme. United States v. Rahimi, 602 U. S. 680, 691 (2024); see also NLRB v. Noel Canning, 573 U. S. 513, 524 (2014); id., at 572–573 (Scalia, J., concurring in judgment). What matters is that the Federal Reserve remains “consistent with the principles that underpin” the First and Second Banks—namely, that monetary policy should not be subject to political interference. Rahimi, 602 U. S., at 692. In our view, the Federal Reserve maintains the “balance struck by the founding generation” under “modern circumstances.” Ibid. We…Read in context ›
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