BlockBeats News, June 30th, the latest ruling by the U.S. Supreme Court confirmed that Federal Reserve Board members still enjoy "for-cause removal" protection, meaning the President does not have the authority to dismiss them at will, thus upholding the independence of the Federal Reserve's monetary policy.

However, the Supreme Court also ruled that the President can remove commissioners of other independent regulatory agencies such as the Federal Trade Commission (FTC) without cause, overturning long-standing legal precedents applying to independent agencies and making the Federal Reserve almost the sole federal agency with such special personnel protection.

Kathryn Judge, a professor at Columbia Law School, stated that while the Federal Reserve's independence has been preserved, its legal foundation has been significantly weakened compared to the past few decades, and it will need to continue explaining to the public the rationale behind its special treatment.

Former Federal Reserve Vice Chair Randal Quarles has previously pointed out that maintaining special personnel protection only for the Federal Reserve poses a legal inconsistency and could face new judicial challenges in the future. He believes that in a scenario where the courts have deemed most independent regulatory officials to be part of the executive branch and dismissible by the President, the question of why the Federal Reserve remains an exception is still a legal issue that needs further examination.