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DARK SECRETS: 4 - The Real Truth

Can the President Fire Anyone He Wants? Yes, Unless the Target Is Part of the Federal Reserve.

In a pair of decisions on Monday, the Supreme Court ruled that presidents have full authority to fire heads of executive branch agencies—but that the Fed is different.

Reason

Supreme Court boosts Trump's power to fire officials, but protects Fed

WASHINGTON (UNITED STATES) - The US Supreme Court on Monday fortified President Donald Trump's powers to fire members of independent government agencies, but carved out protections for the Federal Reserve by blocking the firing of Governor Lisa Cook.

Bangkok Post

US Supreme Court expands presidential powers, backs Trump's firing; Fed's Lisa Cook spared for now

US Supreme Court on Monday upheld President Donald Trump's authority to remove the heads of most independent federal agencies, while making a key exception for the Federal Reserve. The landmark ruling, which significantly expands presidential powers, is being seen as one of the most consequential decisions on executive authority in…

The Times of India

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US Supreme Court rejects Trump's unprecedented bid to fire Fed's Cook

The Supreme Court has taken a significant stand for the Federal Reserve's independence, rejecting President Trump's unusual effort to remove Governor Lisa Cook. The ruling highlights that Fed officials are appointed for set terms and can only be dismissed under specific circumstances, ensuring the central bank remains free from political…

The Economic Times

Supreme Court Ends Agency "Independence," Save for the Federal Reserve

As expected, the Supreme Court overturns Humphrey's Executor, but reaffirms the independence of the Federal Reserve.

Reason

Dollar Moves Lower as Equity Markets Strengthen

The dollar index (DXY00 ) today is down by -0.13%. Today's stock rally has curbed liquidity demand for the dollar. However, losses in the dollar are limited as today's +1% gain in WTI crude oil prices has strengthened inflation expectations and could prompt the Fed to keep monetary policy tight,...

Barchart

Supreme Court expands Trump’s powers to fire federal workers - but stops his push to remove Lisa Cook from Fed

Supreme Court expanded the president’s authority by removing a 91-year-old precedent intended to prevent politics from interfering with independent regulatory agencies

The Independent UK

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US supreme court rules Trump’s firing of Lisa Cook from Fed was unconstitutional

Justices find president does not have constitutional authority to fire Federal Reserve governor without cause

The Guardian - US

One Man vs. 165 Million Americans: The Terrifying Wealth Inequality Exposed by Elon Musk's Net Worth

Elon Musk's net worth briefly surpassed $1 trillion in June 2026, spotlighting US wealth inequality as his fortune equalled the combined wealth of nearly half the American population.

International Business Times UK

Supreme Court stops Trump firing of Fed board member

The Supreme Court ruled against President Donald Trump’s effort to remove Federal Reserve Board member Lisa Cook on Monday, even as the justices expanded presidential power to remove members of the Federal Trade Commission and other independent agencies. The two decisions written by Chief Justice John G. Roberts Jr —…

Roll Call

Rupee slips as tepid stocks dull boost from firmer Asian peers

The Indian rupee edged lower against the dollar on Monday, despite positive sentiment from a US-Iran de-escalation and gains in Asian currencies. A dip in local stock markets, with the Nifty 50 falling 0.4%, overshadowed these boosts. Increased dollar demand from foreign banks also pressured the rupee. Investors are closely…

The Economic Times

Stocks Set to Open Higher as Tech Bounces, U.S. Jobs Data and Warsh’s Remarks Awaited

September S&P 500 E-Mini futures (ESU26) are up +0.72%, and September Nasdaq 100 E-Mini futures (NQU26) are up +1.09% this morning, pointing to a higher open on Wall Street as investors cautiously move back into risky assets at the start of a holiday-shortened week.

Barchart

Trump Eases Pressure On Fed Chair Kevin Warsh As Inflation Climbs, Analysis Claims

The Trump administration is giving new Federal Reserve Chair Kevin Warsh more room to navigate elevated inflation, even as President Donald Trump continues to publicly favor lower interest rates.

International Business Times

President Trump will not get what he wants from Kevin Warsh, a source tells us, as inflation will force the Fed upwards

Everything you need to know before you reach the office this morning.

Fortune

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Euronews

Newsletter: Air-con culture war cranks up as heatwave moves east

Also in this newsletter: A flavour of last night's US Indpendence bash hosted by Ambassador Bill White, and a preview of talks taking place between EU and Chinese trade chiefs in Brussels later today.

Fortune

A former Fed colleague of Kevin Warsh on what to expect: ‘Plan for higher rates’

Esther George spent a decade dissenting in favor of tighter policy. Now, she says, Warsh may have no choice but to raise rates.

The Economic Times

US Stock Market: Warsh faces crucial week with court ruling, global debut in focus

Federal Reserve Chair Kevin Warsh faces a crucial week. The Supreme Court's decision on Governor Lisa Cook's removal will test the central bank's independence. Simultaneously, Warsh will present his new communication strategy, shifting away from explicit forward guidance, at a major international forum in Portugal. This approach, emphasizing data-driven decisions,…

The Economic Times

US Supreme Court nears the end of its term with momentous cases about Trump's power to be decided

The Supreme Court is concluding a term dominated by President Trump's assertions of executive authority. Key decisions this week involve birthright citizenship, the power to dismiss independent agency heads, and transgender athletes' participation in sports. Cases also address mail-in ballot grace periods, campaign finance, and geofence warrants.

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The Economic Times

Gold prices dip to Rs 1.43 lakh/10 grams, silver below Rs 2.23 lakh/kg. What lies ahead?

Gold and silver prices traded lower on MCX on Monday as renewed Middle East tensions and expectations of further US Federal Reserve rate hikes pressured the non-yielding precious metals. Gold futures fell 0.4%, while silver futures declined up to 0.3%.

The Economic Times

Dollar poised for best month in nearly a year; eyes on jobs data, Gulf tension

Global tensions and upcoming U.S. jobs data are keeping the dollar strong, despite a slight dip today. Investors are seeking refuge in the greenback amidst Middle East conflict and a global equity selloff. A hawkish stance from the new Federal Reserve chair also fuels expectations of higher U.S. interest rates,…

The Economic Times

Gold slips as US-Iran tensions lift oil, US rate-hike bets weigh

Gold prices dipped as escalating U.S.-Iran tensions fueled oil prices, while anticipated U.S. Federal Reserve interest rate hikes added further pressure. Despite a brief missile exchange, both nations reportedly agreed to de-escalate and resume talks. Meanwhile, Indian gold demand saw a premium emerge, contrasting with subdued activity in China. Other…

Barchart

Middle East Tensions, Tesla Deliveries and Other Can't Miss Items this Week

Markets enter a holiday-shortened week facing geopolitical escalation as Iran launched new strikes against U.S. bases in Bahrain and Kuwait early Sunday.

The Economic Times

Gold, silver face fresh test as US dollar, Iran crisis to shape week ahead: Analysts

Gold and silver are facing downward pressure as investors digest escalating US-Iran tensions, crude oil price shifts, and crucial economic data. Key indicators like manufacturing PMIs, inflation figures, and US jobs reports will shape the Federal Reserve's next moves. Analysts suggest a continued corrective trend for precious metals, with the…

The Economic Times

As Supreme Court's term nears its end, three major Trump rulings due

The U.S. Supreme Court is nearing the end of its term with crucial decisions pending. Key cases involve President Trump's authority to fire federal officials and limit birthright citizenship, alongside rulings on election-related matters like mail-in ballots and campaign finance. The court will also decide on the legality of bans…

Fortune

The contrarian view for Fed rate cuts: Payrolls will weaken, inflation will plunge, and Kevin Warsh was 'largely performative' in his hawkishness

"He had to sound hawkish to draw a clear line between himself and the White House."

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