David French

He came out of the tariff case swinging an oral argument on these tariffs.

I mean, as I was listening to Justice Gorsuch on the tariffs, I was like, dude doesn't like these tariffs.

And then when he was quizzing D. John Sauer, the Solicitor General,

He was calling back to that very concept and basically saying exactly what I just said earlier.

Like, okay, are you ready for a diminished executive?

You know, if you're going to get this additional power to hire and fire these commissioners, there's something else going along with it, this diminished executive.

And even in the oral argument, Sauer was not –

again, this is the Trump Solicitor General, Sauer was definitely not circling the wagons on trying to do anything about the Fed.

And it was very clear from the oral argument that the Supreme Court, and also from previous opinions, the Supreme Court views the Fed as something very, very different.

And so what I would say to those who are looking at the court, and this is true now, and it's been true for a long time, think of the court as a collection of pre-Trump conservatives.

And when Trumpism overlaps with pre-Trump conservatism, they tend to give Trump a win.

When Trump doesn't overlap with pre-Trump conservatism, they tend to give Trump losses.

And so that's the clash.

And that's also why a lot of liberals still are very nervous about the court because they are, at the end of the day, still pre-Trump conservatives.

The Fed is seen as something different, a legacy of the second bank in the United States.

It is not an executive agency purely in the way that the – if you look at the structure of American government, you have –

executive agencies you have legislative agencies and one of the problems with the fed is you i mean with the ftc is you have a law-making entity because the ftc promulgates regulations things like that under the executive but that's not what the executive is supposed to do it's not supposed to be a law-making branch of government and so the fed though honestly tim the fed has a very unique history

The Fed is not located under the executive branch in the same way that, say, the FTC is.

And then also, there are...

greater consequences when you're talking about uprooting the Fed.