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Update: Market Chatter: Supreme Court Upholds Trump's Firing of FTC Commissioner
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Update: Market Chatter: Supreme Court Upholds Trump's Firing of FTC Commissioner
Jun 29, 2026 1:26 PM

03:55 PM EDT, 06/29/2026 (MT Newswires) -- (Updates with the FTC's response in the second last paragraph.)

The US Supreme Court on Monday upheld President Donald Trump's firing of Democratic Federal Trade Commission member Rebecca Slaughter, Reuters reported.

The decision expands presidential authority over federal agencies and overturns a 1935 precedent that had protected certain agency leaders from being removed without cause, the report said.

"The day President Trump fired these Biden-era Democrat Commissioners on the FTC, I said President Trump would be vindicated. Today that vindication has arrived. This was the correct and obvious decision. It is frankly disgraceful that a Biden administration official attempted to cling to power -- and a taxpayer-funded salary -- well after President Donald Trump's historic victory. Today is a win for democracy as well, and a major loss for left-wing technocrats who claim they know better than voters. I have said repeatedly that the the executive power -- all of it -- is vested solely in the President, and the Court affirmed that today", said Andrew Ferguson, chairman of the FTC.

In a separate matter, the Supreme Court left in place a lower-court injunction that bars Trump from firing Federal Reserve Governor Lisa Cook while litigation continues.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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