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Trump claims expanded power over independent agencies (www.npr.org)

submitted 4 days ago by pelespirit@sh.itjust.works to c/politics@sh.itjust.works

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President Trump on Tuesday signed an executive order to give the president greater power over independent regulatory agencies — government entities Congress set up to be shielded from White House control.

Well-known independent regulatory agencies include the Consumer Product Safety Commission, which issues recalls and safety warnings; the Securities and Exchange Commission, which oversees markets; and the Federal Deposit Insurance Corporation, which insures bank deposits.

The Federal Reserve, which sets monetary policy, is intentionally designed to be independent from the whims of electoral politics, a separation considered central to its ability to stabilize the economy.

The order calls for the affected agencies to submit any new regulations to the White House, set up White House Liaison offices, and "regularly consult with and coordinate policies and priorities" with the White House. In claiming this new power over agencies, the order also gives the president and attorney general the sole abilities to interpret laws for the executive branch. The order stands as yet another example of Trump's pushes to aggressively expand executive power.

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[–] pelespirit@sh.itjust.works 7 points 4 days ago

This is a red alert. They're going after the FDIC that insures your bank accounts (that includes rich people and the 1%.) You know, the thing that keeps everyone from running on the banks if there is a depression.