Supreme Court Fed Ruling Puts Central Bank Independence Back In Bitcoin’s Macro Frame

TL;DROn June 29, 2026, the Supreme Court blocked President Trump's immediate removal of Fed Governor Lisa Cook, ruling that Governors serve staggered 14-year terms and are protected by "for cause" removal provisions of the Federal Reserve Act.
The key caveat: Clarify that in a separate ruling on the same day (*Trump v. Slaughter*), the Court allowed the President to fire the head of the FTC at will, signaling that the Fed remains a strict exception.
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