WS #11001
SCOTUS blocked Trump's firing of Fed Gov. Lisa Cook (5-4), affirming Fed independence, while also ruling presidents can fire other agency heads at will, and upheld mail-in ballot counting after Election Day. Citadel Securities warns investors underestimate Fed Chair Warsh's determination to fight inflation, which could drag on risk assets. BNY Mellon will offer custody, minting, and redemption of Circle's USDC for institutional clients, signaling growing institutional crypto adoption. The Japanese yen weakened to 161.95 per USD, its lowest level in nearly four decades, impacting Japanese exporters and global carry trades.
Supreme Court rulings on Fed independence and executive power
SCOTUS blocked Trump's firing of Fed Gov. Lisa Cook (5-4), affirming Fed independence, while also ruling presidents can fire other agency heads at will, and upheld mail-in ballot counting after Election Day.
Citadel Securities warns investors underestimate Fed Chair Warsh's determination to fight inflation, which could drag on risk assets.
BNY Mellon will offer custody, minting, and redemption of Circle's USDC for institutional clients, signaling growing institutional crypto adoption.
The Japanese yen weakened to 161.95 per USD, its lowest level in nearly four decades, impacting Japanese exporters and global carry trades.