美联储独立性遭遇“世纪审判”：最高法院能否挡住特朗普？

Core Viewpoint - The independence of the Federal Reserve faces a significant test as a case involving President Trump's attempt to dismiss Fed Governor Cook is brought before the Supreme Court, raising concerns about political influence over the central bank [1] Group 1: Legal Context - The case centers on Trump's claim that Cook should be dismissed due to alleged mortgage fraud, which could undermine the Fed's independence and set a precedent for presidential dismissals of central bank officials [1][2] - Cook's term is set to last until 2038, well beyond Trump's presidency, and there are currently no financial institutions accusing her of fraud, nor has any administrative process been initiated against her [2] - The Trump administration argues that "just cause" for dismissal is determined solely by the president, potentially making it easier for future presidents to dismiss Fed officials [2][3] Group 2: Implications for Federal Reserve Independence - Analysts express concern that even if Cook retains her position, the Supreme Court's ruling could weaken the barriers protecting the Fed from political pressure [2][3] - The requirement for "just cause" is intended to safeguard Fed officials from being dismissed due to political disagreements, but if the threshold is set too low, it could jeopardize the Fed's autonomy [3][4] Group 3: Historical Context and Credibility - Historical examples show that monetary policy decisions can have painful short-term economic impacts, which may not align with the interests of elected officials bound by election cycles [4] - The credibility of the Federal Reserve is at risk if its policies begin to cater to political demands, as this could lead to higher inflation and undermine public trust in the institution [4][5] - The independence of the Fed is crucial for maintaining low inflation, as political interference could lead to unsustainable economic conditions and higher inflation rates [5]