With the Federal Reserve, however, the Supreme Court’s conservative justices have applied a different view: that the Fed’s monetary policy — the setting of short-term interest rates and management of the money supply — historically hasn’t been overseen by the executive branch.

U.S. Supreme Court justices during arguments over President Donald Trump's bid to fire ‌Federal ​Reserve Governor Lisa Cook seemed to embrace the idea that the central ‌bank's independence to set mone...

The true motivation for trying to fire Cook, Trump's critics say, is the Republican president's desire to exert control over U.S. interest rate policy.