A long-simmering showdown over whether President Donald Trump may seize control over the Federal Reserve appears to be entering its endgame. It is highly likely that the Supreme Court will weigh in on this dispute either Monday evening or Tuesday.

If the Court does side with Trump, that would be one of the most consequential economic policy decisions in the federal judiciary’s history. And it could potentially have disastrous consequences both for investors and for the US economy broadly.

The Fed is one of several federal agencies that are labeled as “independent” from the president. Though the president chooses who will serve on the Fed’s Board of Governors, these governors must be confirmed by the Senate, and they serve 14-year terms. By law, the president may only remove a member of t

See Full Page