ATTORNEY GENERAL WEISER ON SCOTUS RULING PROTECTING FEDERAL RESERVE INDEPENDENCE WHILE EXPANDING TRUMP'S FIRING POWER

The following information was released by the office of the Colorado Attorney General:

Attorney General Phil Weiser today issued the following statement after the U.S. Supreme Court ruled in Trump v. Cook that Congress may protect the independence of the Federal Reserve, while ruling in Trump v. Slaughter that members of other independent agencies may be removed by the president:

"Today's decision recognizes what has long been understood about the Federal Reserve: its independence is essential to maintaining confidence in our nation's economy and financial system.

"These cases sought to defend longstanding legal protections enacted by Congress and preserve the independence of institutions that serve the public interest. I welcome the Supreme Court's decision preserving the Federal Reserve's independence, which helps promote economic stability, support job growth, and provide certainty for families and businesses.

"I strongly disagree, however, with the court's decision regarding the Federal Trade Commission. By allowing FTC commissioners to be removed at will, the court weakened Congress's ability to establish independent agencies and opened the door to greater political influence over decisions that affect consumers and competition. For Colorado families, workers, and small businesses, strong and independent consumer protection and competition enforcement help keep markets fair, lower costs, and create economic opportunity.

"My commitment to protecting consumers, promoting fair competition, supporting economic stability, and upholding the rule of law remains unchanged. I will continue working with our state partners to defend the institutions and values that help Colorado families and communities thrive."