WS #11002
Supreme Court blocks Trump's firing of Fed Governor Lisa Cook (5-4), reinforcing Fed independence, while also ruling presidents can fire FTC commissioners, expanding executive power. Citadel Securities warns investors underestimate Fed Chair Warsh's determination to fight inflation, bearish for risk assets. BNY Mellon adds USDC custody and minting services for institutions, signaling growing institutional adoption of stablecoins. JPY weakens to 161.95 per USD, a near 40-year low, impacting Japanese exporters and global carry trades.
Supreme Court rulings on Fed independence and executive power
Supreme Court blocks Trump's firing of Fed Governor Lisa Cook (5-4), reinforcing Fed independence, while also ruling presidents can fire FTC commissioners, expanding executive power.
Citadel Securities warns investors underestimate Fed Chair Warsh's determination to fight inflation, bearish for risk assets.
BNY Mellon adds USDC custody and minting services for institutions, signaling growing institutional adoption of stablecoins.
JPY weakens to 161.95 per USD, a near 40-year low, impacting Japanese exporters and global carry trades.