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SCOTUS rulings could reshape markets: birthright, election, trans
Seven major SCOTUS cases on presidential power, birthright citizenship, mail ballot rules, and trans sports. Decisions due this week could reshape markets.
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The Supreme Court's term ends this week with seven major cases unresolved. The rulings cover presidential power over independent agencies, birthright citizenship, election deadlines, and transgender athletes. Markets are watching the Fed and FTC cases most closely.
Fed and FTC Independence at Stake
The court is deciding whether President Trump can remove Federal Reserve Governor Lisa Cook and former FTC Commissioner Rebecca Slaughter without cause. Lower courts said he exceeded his authority. The administration argues the president should control executive branch officials regardless of congressional protections. A ruling for Trump would overturn a 91-year-old precedent. That could give future presidents direct influence over monetary policy and antitrust enforcement.
A second case challenges Trump's executive order to restrict birthright citizenship. The order would require at least one parent to be a citizen or permanent resident. Opponents cite the 14th Amendment. If upheld, roughly 250,000 children born each year to undocumented immigrants or visa holders would lose automatic citizenship. The policy's impact on labor markets and immigration enforcement is uncertain.