Trump v. Cook · ¶84

Put differently, the public’s interest is not served if a President can intimidate members of the Federal Reserve into doing his bidding. Experience has taught that high inflation, price variability, and, ultimately, financial panic can result when the Federal Reserve is subjected to rank politicization. See id., at 14–16; ante, at 5. Indeed, even the mere perception of partisan influence over that body can trigger these disastrous consequences. See Brief for Former Treasury Secretaries et al. as Amici Curiae 9. Allowing Governor Lisa Cook “to be removed now, without even full merits review, would send an unmistakable signal that the Federal Reserve is vulnerable” to exactly this kind of influence. Brief for Former Government Officials et al. as Amici Curiae 10.

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