55% not satisfied with Trump on inflation, 51% view Musk negatively: Poll
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New York Times
a few seconds ago
- New York Times
Trump's War With Powell Throws a Little-Known Planning Board Into Scrutiny
The emails from Trent Morse, the deputy director of the White House's personnel office, arrived in the inboxes of three Biden-appointed commissioners at the National Capital Planning Commission on July 9. They were terse and came without warning. 'On behalf of President Donald J. Trump, I am writing to inform you that your position as commissioner of the National Capital Planning Commission is terminated, effective immediately,' Mr. Morse wrote. 'Thank you for your service.' The little-known board, which has the relatively mundane task of reviewing the impact of development projects on the capital's urban landscape, was barely on President Trump's radar during his first term. But the panel, which does not oversee projects or consider their cost, has since become pivotal in the administration's campaign to discredit Jerome H. Powell, the chairman of the Federal Reserve, whose departure the president is trying to accelerate. Mr. Trump has become increasingly angry with Mr. Powell for being too slow to cut interest rates, and his advisers have been weighing whether to try firing him, a legally precarious escalation. In recent weeks, White House officials have focused their attention on the cost of renovating the central bank's headquarters in Washington, suggesting that Mr. Powell's handling of the $2.5 billion makeover could be grounds for sacking him before his term ends next year. The controversy over the cost of the renovations has thrust the National Capital Planning Commission, a 12-person panel that was created by Congress in 1924, into a rare political spotlight. The White House's sudden interest in the commission has turned it into a cudgel that could potentially alter the makeup of the Fed at an important moment for the U.S. economy, which is facing a new bout of inflation from Mr. Trump's tariffs. The president has made clear he wants to install a chair who will cut rates despite concerns that import taxes could lead to higher prices, a position that could result in even more inflation if low borrowing costs overheat the economy. Mr. Morse's letters were sent to Teri Hawks Goodmann, Bryan C. Green and Elizabeth M. Hewlett. The former commissioners, who have backgrounds in urban planning and architecture and serve on the commission on a part-time basis, were appointed to six-year terms under the Biden administration. Want all of The Times? Subscribe.
Washington Post
a few seconds ago
- Washington Post
Trump's firing of 2 Democrats on the Federal Trade Commission was unconstitutional, judge rules
A federal judge has ruled that President Donald Trump illegally fired two Democrats on the Federal Trade Commission earlier this year in his efforts to exert control over independent agencies across the government. One of the commissioners, Alvaro Bedoya, resigned after suing to challenge the firings. The other plaintiff, Rebecca Kelly Slaughter, can now resume her duties as commissioner because Trump lacks the constitutional authority to remove her, the judge ruled Thursday. Attorneys for the Trump administration almost immediately declared their intent to appeal. U.S. District Judge Loren AliKhan cited decades of legal precedent in her written opinion, including a 1935 U.S. Supreme Court decision that found a similar attempt by President Franklin D. Roosevelt was unlawful because commissioners could be removed only for cause, not at the president's whim. She said her ruling would uphold 'clearly established law that has been enacted by a coequal branch of government, reaffirmed by another coequal branch, and acquiesced to by thirteen executives over the course of ninety years.' Trump fired the commission's two Democratic members in March. The FTC is a regulator created by Congress that enforces consumer protection measures and antitrust legislation. Its seats typically include three members of the president's party and two from the opposing party. Commissioners Bedoya and Slaughter said they'd been dismissed illegally and immediately promised to sue. Bedoya later submitted his resignation in June. Slaughter has four years left in her term as commissioner. 'As the Court recognized today, the law is clear, and I look forward to getting back to work,' Slaughter said in a statement Thursday. During a May court hearing in federal court in Washington, D.C., plaintiffs' attorneys warned against granting the president 'absolute removal power over any executive officer,' saying it would effectively eliminate an important check on his power. 'That has never been the case in this country,' said attorney Aaron Crowell. 'That's not the law. That has never been the law.' But attorneys for the Trump administration argued that the FTC's role has expanded since the 1930s, and as such, its members should answer directly to the president. 'The president should be able to remove someone who is actively blocking his policies, for example,' Department of Justice attorney Emily Hall said during the hearing. AliKhan, who was nominated to the federal bench by President Joe Biden in 2023, noted the long line of presidents before Trump who didn't try to push the limits. Commissioners are appointed by the president and confirmed by the Senate. They serve seven-year terms that are staggered to prevent multiple vacancies at once. They can be fired for displaying specific bad behaviors, including inefficiency, neglect of duty and malfeasance in office. Trump told Bedoya and Slaughter that he was dismissing them because their service on the commission was inconsistent with his administration's priorities, according to the lawsuit. In its 1935 decision, the Supreme Court unanimously held that the president couldn't fire leaders of independent agencies without cause. Otherwise, the agencies would become more political and less independent. While that restriction was eroded in a subsequent decision that came in 2020, it has largely remained in place. The case, known as Humphrey's Executor has been central to a number of court challenges against the Trump administration's personnel moves targeting boards and government executives. The legal fight over the firings could have consequences for other independent agencies, including the Federal Reserve, an institution that has long sought to protect its independence. Economists and financial markets broadly support an independent Fed because they worry a politicized version would be more reluctant to take unpopular steps to fight inflation, such as raise interest rates. Plaintiffs argue that a politicized FTC could also favor powerful corporations while driving up prices for consumers. Attorney Amit Agarwal said the case isn't just about his clients keeping their jobs. He said it's about protecting 'the will of the American people' and their right to have independent agencies working on their behalf. 'America is already suffering from an excess of executive power, and the last thing we need is to hand vast new powers to the president over Congress's explicit and longstanding objection,' Agarwal said in a statement responding to the ruling, adding that 'if Trump wants even more power, he should ask the people's elected representatives in Congress, not unelected and politically unaccountable courts.'
Washington Post
a few seconds ago
- Washington Post
President Donald Trump will sign a new cryptocurrency bill into law on Friday
WASHINGTON — President Donald Trump on Friday will sign into law a new set of regulations for a type of cryptocurrency that are seen as a way to legitimize the burgeoning industry. The GENIUS Act sets initial guardrails and consumer protections for stablecoins, a type of cryptocurrency that is tied to a stable asset like the U.S. dollar to reduce price volatility. It passed both the House and Senate with wide bipartisan margins. The measure is meant to bolster consumer confidence in the rapidly growing crypto sector. Its passage comes as Trump makes it a mission to make the U.S. the 'crypto capital of the world.' 'Congratulations to our GREAT REPUBLICANS for being able to accomplish so much, a record, in so short a period of time,' Trump wrote on his social media site Friday morning as he announced the bill signing. The House also passed two other bills Thursday that are meant to boost the legitimacy of the crypto industry. One creates a new market structure for cryptocurrency, and the other bans the Federal Reserve from issuing a new digital currency. Both measures now go to the Senate.
