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US Stock Market: US Supreme Court shields Fed independence, but leaves central bank more isolated

The US Supreme Court has reinforced the independence of the Federal Reserve by ruling against the presidential removal of its governors without substantial legal justification. This decision emerged from a case involving Governor Lisa Cook, where the court mandated that any dismissal must demonstrate serious misconduct related to official duties. This ruling is significant as it preserves the autonomy of the central bank, ensuring it can operate without political interference, which is crucial for economic stability.