Harvard's Noah Feldman warns Fed independence hinges on one Supreme Court vote after paired rulings carved a fragile 5-4 exception for the central bank.

"Not only the fact of independence but also the appearance of independence is key to the Federal Reserve’s design."

“Not only the fact of independence but also the appearance of independence is key to the Federal Reserve’s design.”

The Supreme Court on Monday said the Federal Reserve, unlike any other agency in Washington, has a measure of independence from the presidency and day-to-day politics.

Harvard's Noah Feldman warns Fed independence hinges on one Supreme Court vote after paired rulings carved a fragile 5-4 exception for the central bank.

WASHINGTON (AP) — The Supreme Court on Monday said the Federal Reserve, unlike any other agency in Washington, has a measure of independence from the presidency and day-to-day…

“These agencies exercise sweeping powers over corporations, over the economy, over our health, over our safety,” said University of Michigan law professor Leah Litman, “And the…