A Big Day for Executive Power — Except at the Fed
The Court has given the president full control of one of the three branches of constitutional government — and created a separate fourth branch in the Fed.

The history and usefulness of an independent central bank is no substitute for a constitutional power to separate it from the political branches.
The Court has given the president full control of one of the three branches of constitutional government — and created a separate fourth branch in the Fed.
President Donald Trump downplayed pressure to sign a bipartisan housing bill Monday, arguing that it’s “unimportant compared to the SAVE America Act.” Affordability remains a top issue heading into November’s midterm elections, and while the president has seen national gas prices decrease in recent weeks following a ceasefire in the Iran war, he’s also made […]
President Donald Trump's Federal Aviation Administration is shutting down flights at Reagan National Airport for 15 hours across two days to clear the skies for his Freedom 250 celebration.The FAA posted the warning on Monday on X, saying it has been coordinating with stakeholders "for months to help ensure the safe and efficient movement of air traffic during celebrations of America's 250th birthday, including the iconic flyovers and fireworks.""Flight operations at DCA are expected to be temporarily paused from 10 a.m. to 1 p.m. on July 3 and from noon to 11:59 p.m. on July 4 to support Independence Day events," the FAA wrote."These times are subject to change," the post added. "Travelers should check with their airline for the latest flight status."President Donald Trump established Freedom 250, a White House-backed commission, to organize the semiquincentennial celebrations. He wrote on Truth Social that he would personally launch "the LARGEST FIREWORKS SHOW IN HISTORY."Pyrotecnico, the company behind the July 4 display, plans to fire roughly 851,000 fireworks from 10 sites — including eight barges on the Potomac River — over 40 minutes starting at 10:30 p.m. That would shatter the current Guinness World Record of 810,904 fireworks, set by a megachurch in the Philippines in 2016."Our main focus is to make this the most memorable fireworks display that this generation will have ever seen," Pyrotecnico CEO Stephen Vitale told NPR.Freedom 250 spokesperson Rachel Reisner told Axios the finale will "shatter world records and stand as the most spectacular firework display the world has ever seen."The July 4 program also includes flyovers by the Thunderbirds, the Blue Angels, the F-22 Raptor Demo Team and the Marine Corps F-35B Lightning II Demo Team — what Freedom 250 calls the first aerobatic demonstrations ever held over Washington.
Today, Bloomberg's Mike McKee and June Grasso break down the Supreme Court's decision to allow Fed governor Lisa Cook to stay in her role while she fights President Trump's efforts to oust her. Then, former Governor of Indiana Eric Holcomb discusses RAISE US, a joint effort with former Rhode Island Governor Gina Raimondo that aims to develop a strategy around AI's impact on the labor market. Plus, Kikoff CEO Cynthia Chen, breaks down how her app helps consumers build credit and improve low credit scores. (Source: Bloomberg)
The Supreme Court blocked President Trump’s attempt to remove Fed Governor Lisa Cook for now while expanding his power to fire other officials. What this means for the Fed and others, on the Big Take podcast.
Former federal prosecutor Andrew Weissmann fixed on a single word in Chief Justice John Roberts' majority opinion and said it left him deeply unsettled.Reacting on air to Monday's 6-3 ruling in Trump v. Slaughter, which overturned 91 years of precedent and lets the president fire members of independent agencies without cause, Weissmann said the decision extends the theory of expansive presidential power Roberts laid out in the Trump v. United States immunity case.This time, he said, the chief justice leaned on the "vitality" and "secrecy" of the executive branch."It's hard to stress enough for people the ramifications of this decision," he told MS NOW's Nicolle Wallace on her show, "Deadline: White House."Weissmann pointed to Roberts' language that indicates his views on sweeping presidential power."Saying that it's necessary, what they ruled today, that it's necessary to have the vitality, and in a word, I found chilling, the secrecy of the executive branch. That was a word that was not in the immunity decision, and should think about that. He said the ruling "unleashes political patronage" and called it "a very ahistoric decision" with "very, very long coattails.""You do not want a Republican president to come in and fire every Democrat, and you do not want every Democratic president to come in and fire every Republican," he said. "You want career people in place with experience, who are supposed to be apolitical regardless of party."The decision drew a scathing dissent from Justice Sonia Sotomayor, who wrote that the court handed Trump a power unknown even to the English Crown.Weissmann invoked Justice Robert Jackson, who returned from prosecuting Nazis at Nuremberg, to caution against expanding presidential power, and said the founders feared this outcome."We did not want to, and do not want to, have a king in the White House," he said.He also called the majority's appeal to originalism "laughable," citing the same-day decision sparing the Federal Reserve as proof of "a result-oriented court."The ruling was a win for Trump even as the court dealt him losses the same day, rejecting his challenge to late-arriving mail ballots and refusing to hear his E. Jean Carroll appeal.
The Supreme Court blocked Trump’s bid to remove the Fed’s Lisa Cook for now but expanded his power over other agencies. Hear what the rulings mean for the Fed’s future on the Big Take podcast. (Source: Bloomberg)
Lisa Cook, the first Black woman on the Fed board, sued Trump after he alleged she misrepresented mortgage information and moved to fire her.