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> No, its not; the Fed has a board of five commissioners, not a single director. This is rather the norm for independent executive-branch agencies with leadersh

> No, its not; the Fed has a board of five commissioners, not a single director. This is rather the norm for independent executive-branch agencies with leadership that can be removed only for cause. Is there a specific Constitutional requirement for a board as well as a Chair if it's for-cause-only? Because otherwise that seems like a very narrow difference to ask the Court to rule on regarding the appointment/firing of the head...

dragonwriter 3y ago
> Is there a specific Constitutional requirement for a board as well as a Chair if it’s for-cause-only? Well, no. The specific rule is that for-cause-only removal is inconsistent in general with the vesting of executive power in the President in Article II, with two exceptions: (1) Agencies with a role similar to that of the FTC in 1935 that exercise no part of the executive power but serve solely as a legislative/judicial aid, and (2) Inferior officers (not principal officers of agencies) with limited duties and no policymaking role. (While each of these rules comes from separate lines of cases, they were summarized together and referenced in support of the decision by which the Supreme Court struck down the for-cause-only rule at the CFPB [0], which specifically found that the for-cause-only provision combined with the single-director structure would clearly violate separation of powers as a reason not to further extent the existing exceptions to the prohibition of for-cause-only restrictions to allow the one at the CFPB.) > Because otherwise that seems like a very narrow difference to ask the Court to rule on regarding the appointment/firing of the head… The Court has already ruled against that, the present challenge is to the funding structure. [0] https://www.supremecourt.gov/opinions/19pdf/19-7_new_bq7d.pdf https://www.supremecourt.gov/opinions/19pdf/19-7_new_bq7d.pd...

dragonwriter 3y ago

> Is there a specific Constitutional requirement for a board as well as a Chair if it’s for-cause-only? Well, no. The specific rule is that for-cause-only removal is inconsistent in general with the vesting of executive power in the President in Article II, with two exceptions: (1) Agencies with a role similar to that of the FTC in 1935 that exercise no part of the executive power but serve solely as a legislative/judicial aid, and (2) Inferior officers (not principal officers of agencies) with limited duties and no policymaking role. (While each of these rules comes from separate lines of cases, they were summarized together and referenced in support of the decision by which the Supreme Court struck down the for-cause-only rule at the CFPB [0], which specifically found that the for-cause-only provision combined with the single-director structure would clearly violate separation of powers as a reason not to further extent the existing exceptions to the prohibition of for-cause-only restrictions to allow the one at the CFPB.) > Because otherwise that seems like a very narrow difference to ask the Court to rule on regarding the appointment/firing of the head… The Court has already ruled against that, the present challenge is to the funding structure. [0] https://www.supremecourt.gov/opinions/19pdf/19-7_new_bq7d.pdf https://www.supremecourt.gov/opinions/19pdf/19-7_new_bq7d.pd...