For months Trump has been trying to take control of the Federal Reserve in order to force sharp interest rate cuts — reportedly as a way to boost the economy and reduce government borrowing costs.
On Wednesday, SCOTUS threw up the first roadblock to that path, deferring Trump’s attempt to fire Fed Board Governor Lisa Cook immediately, opting instead to hear oral arguments in court in January.
“The Court’s decision rightly allows Governor Cook to continue in her role on the Federal Reserve Board, and we look forward to further proceedings consistent with the Court’s order,” Cook’s attorneys, Abbe Lowell and Norm Eisen, said in a statement.
While the Extreme Court has previously cleared the way for a wannabe fascist dictator to fire at will leaders of other independent agencies, the court has signaled that the central bank may be uniquely independent. Economic experts maintain that undermining the independence of the Fed is a recipe for economic turmoil and would spur public distrust of the agency.
Also in the “Distrust” column:
Another Trump tantrum resulted in the firing of Erika McEntarfer, a Bureau of Labor Statistics commissioner in August, when the wannabe fascist dictator accused the commissioner of “rigging” the jobs reports in order to undermine him politically.
Trump then nominated a “talented economist” from the Heritage Foundation, E.J. Antoni, to lead the BLS.
On Tuesday it was reported that the nomination of Antoni was being withdrawn by the White House.
Antoni was suffering a credibility problem due to many factors, including observations in interviews that the art on his walls included a German Nazi ship from World War II, the Bismarck.
NBC also reported that Antoni was present in the crowds that rioted at the Capitol on January 6, 2021.
CNN found that Antoni operated a since-deleted Twitter account that featured sexually degrading attacks on Kamala Harris, derogatory remarks about gay people, conspiracy theories, and crude insults aimed at critics of President Donald Trump.
GOP Senators Susan Collins and Lisa Murkowski had concerns about Antoni’s nomination.
The Heritage Foundation said on Tuesday that Antoni will continue his work at the think tank instead of at the BLS.
Kevin Roberts, president of The Heritage Foundation and Heritage Action, said in a statement that Antoni “continues to be one of the sharpest economic minds in the country” and that he “was the right man for the job” at the BLS.