Warsh comments on Supreme Court ruling on the Fed: ‘We need not worry about political factors’

CoinFeed reported on July 1 that, in response to this week’s Supreme Court ruling blocking President Trump’s firing of Federal Reserve Governor Cook, Federal Reserve Chair Warsh gave his preliminary response: ‘Before the Supreme Court ruling, the Fed has been operating independently and following its statutory duties. After the Supreme Court ruling, the Fed will continue to do so… I trust federal judges appointed under Article III of the Constitution and firmly believe in the rule of law. We will follow the Supreme Court ruling, but from a day-to-day operational perspective, this ruling reaffirms our stance: we are doing our best to perform our duties impartially, much like an umpire calling balls and strikes. We take seriously the reform goals and will honor the important commitments entrusted to us by Congress—that is, to achieve price stability within the framework of the ‘dual mandate’; as long as we do that, we need not worry about political interference or judicial intervention. We can focus on the task at hand.’