Supreme Court Ruling on Fed's Cook is 'mostly a Win' for Warsh

Dow Jones04:37

1637 ET - The U.S. Supreme Court ruling that President Trump can't fire Fed officials is a double-edged sword for Chairman Warsh, JPMorgan's Michael Feroli writes. He says the decision "is mostly a win" for him, "for the simple reason that now Trump can't fire Warsh." It also means that Warsh will need to convince, rather than coerce, his colleagues to back his agenda for the central bank. The court decision keeps Governor Cook on the job. Feroli adds that the ruling stops short of equating central bank independence with monetary policy independence, a question that could be revisited by future courts, he says. (paulo.trevisani@wsj.com; @ptrevisani)

(END) Dow Jones Newswires

June 29, 2026 16:37 ET (20:37 GMT)

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