Fate of Fed Intertwined With FTC Democrat, Supreme Court Told

Allowing President Donald Trump to remove independent agency members undermines the legal basis for the independence of the Federal Reserve, lawyers for the Federal Trade Commission’s sole remaining Democrat told the US Supreme Court Monday.

Attorneys for FTC Commissioner Rebecca Kelly Slaughtermade that argument in a filing that seeks to allow her to remain in her post while the high court hears an appeal by the Trump administration. The president is seeking to overturn a 90-year-old Supreme Court decision that let Congress set up independent agencies and shield their leaders from being fired.

The federal law that created ...