Episode 122

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Published on:

10th Jul 2026

SCOTUS Special (Part 2): The Federal Reserve Exception?

Part 2 of our Supreme Court Special.

In this episode of Unwritten Law, NCLA President and Chief Legal Officer Mark Chenoweth and Senior Litigation Counsel John Vecchione are joined by NCLA Senior Litigation Counsel Jacob Huebert to examine the Supreme Court's decision in Trump v. Cook and what it means for the Federal Reserve and presidential removal power.

Although the Court's decision in Trump v. Slaughter significantly expanded the President's authority to remove executive officers, Trump v. Cook stopped short of applying that reasoning to the Federal Reserve. Jacob explains why the Court emphasized the Federal Reserve's unique historical role, how Chief Justice Roberts relied on history and tradition, and why the Justices treated monetary policy differently from other executive functions.

The discussion explores the government's arguments, standing, the Court's emergency-docket analysis, Justice Thomas's separate writing, and why Myers, Humphrey's Executor, and the First and Second Banks of the United States all played an important role in the Court's reasoning.

Mark, John, and Jacob also discuss what constitutional questions remain unresolved, whether the Federal Reserve's regulatory powers could still face future challenges, and why Trump v. Cook may not be the final word on presidential control over independent agencies.

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About the Podcast

Unwritten Law

How Government Power Shapes Your Rights

Every day, unelected federal agencies make decisions that affect your job, your business, your speech, your property, and your constitutional rights—often without Congress ever voting on them. From the rules that govern small businesses to the regulations that shape everyday life, the modern administrative state reaches further than most Americans realize.

On Unwritten Law, constitutional lawyers Mark Chenoweth and John Vecchione break down the biggest legal battles involving federal agencies, government overreach, and the Constitution. Each episode explores real cases challenging the expanding power of the administrative state, explaining how these disputes affect ordinary Americans, businesses, and the future of limited government.

Whether the topic is the Supreme Court, free speech, property rights, due process, jury trials, executive power, or the separation of powers, Unwritten Law explains the legal issues behind today's biggest constitutional debates in clear, accessible language. You'll hear directly from the attorneys litigating landmark cases, as well as clients whose lives and livelihoods have been changed by unlawful government action.

Produced by the New Civil Liberties Alliance (NCLA), Unwritten Law takes listeners behind the headlines to explain how federal agencies exercise regulatory power, how constitutional challenges move through the courts, and why these cases matter—even if you've never stepped inside a courtroom.

If you've ever wondered who really writes the rules that govern your life, why unelected bureaucrats hold so much authority, or how the Constitution protects individual liberty, Unwritten Law will give you the context, the legal insight, and the real-world stories behind today's most important fights for civil liberties.

Whether you're a lawyer, business owner, public servant, student, or simply someone who wants to better understand how government power affects everyday life, Unwritten Law gives you the legal insight behind the headlines—and the constitutional principles that protect individual liberty.

Subscribe each week for conversations about Supreme Court litigation, constitutional law, the administrative state, federal agencies, government accountability, civil liberties, free speech, property rights, due process, separation of powers, regulatory power, and the legal battles shaping the future of American government.

About your host

New Civil Liberties Alliance

For over a century, unlawful administrative power has gradually displaced the Constitution’s avenues for lawmaking and justice. Although we still enjoy the shell of our Republic, there has developed within it a very different sort of government—a type, in fact, that the Constitution was designed to prevent. The unconstitutional Administrative State is the focus of NCLA’s concern.