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Wall Street is growing more divided on how much the Federal Reserve will move interest rates next week. In fact, the market's mixed outlook ahead of the central bank decision is more unsettled than any time since the Fed started pushing borrowing costs higher in early 2022. Investors are certain that the Fed will begin reducing interest rates next week from their current 5.25% to 5.50% range, but a sense of uncertainty lingers. We do not anticipate any dissents" from voting members of the central bank's Federal Open Market Committee next week, Bank of America's Bhave added. "So if pricing stays where it is currently, it would be the first meeting in years where there's serious uncertainty about the rates decision."
Persons: Henry Allen, Aditya Bhave, Bhave, America's Bhave Organizations: Federal Reserve, Fed, Deutsche Bank, Bank of America, Committee, Bank, America's
US President Joe Biden speaks about student loan debt relief at Madison Area Technical College in Madison, Wisconsin, April 8, 2024. WASHINGTON — The Supreme Court on Wednesday rebuffed a Biden administration plea seeking to revive the latest plan to tackle federal student loan debt. The court in a brief order denied an emergency request filed by the administration seeking to lift a nationwide injunction imposed by an appeals court. The Education Department issued a regulation finalizing its Saving on a Valuable Education, or SAVE, plan in July 2023, the month after the Supreme Court ruled the administration lacked authority to implement Biden's earlier loan forgiveness program. They say it should be blocked for the same reason that the Supreme Court blocked Biden's earlier plan.
Persons: Joe Biden, WASHINGTON —, Biden, Elizabeth Prelogar Organizations: Madison Area Technical College, WASHINGTON, The Education Department, Valuable Education, Congress, Circuit, Education Department Locations: Madison , Wisconsin, Missouri
Instead, a series of negotiations led to an eventual compromise decision limiting the Idaho law and temporarily forestalling further limits on abortion access from the high court. This exclusive series on the Supreme Court is based on CNN sources inside and outside the court with knowledge of the deliberations. The Idaho law had exemptions only to prevent death of the pregnant woman and in instances of rape or incest. It issued formal guidance saying the Emergency Medical Treatment and Labor Act (EMTALA), which requires stabilizing treatment regardless of a patient’s ability to pay, would preempt any state abortion ban in situations when an emergency termination was needed. Idaho lost in an initial proceeding in a US district court, as a judge issued a temporary injunction against the abortion ban.
Persons: Roe, Wade, Biden, John Roberts, SCOTUS, Elizabeth Prelogar, Idaho’s, Amy Coney Barrett, , Roberts, Brett Kavanaugh, Barrett, “ improvidently, ” Barrett, Kavanaugh, , Elena Kagan, , – Samuel Alito, Clarence Thomas, Neil Gorsuch, Alito, Thomas, Sonia Sotomayor, Kagan, Jackson, Sotomayor, Ketanji Brown Jackson, , ” Alito, ” Jackson Organizations: CNN, Supreme, Republican, Democratic, Labor, Justice Department, Idaho, United, Jackson, Health Locations: Idaho, EMTALA . Idaho, SCOTUS Idaho, Sacramento, Dobbs v, Moyle v, United States
Sacramento, California CNN —Justice Elena Kagan on Thursday defended the code of conduct the Supreme Court created last year, but conceded there needs to be a way to enforce the rules for it to be more effective. “I think that the rules that we put out are good ones,” Kagan said at a judicial conference in Sacramento. “I think that the thing that can be criticized is, you know, rules usually have enforcement mechanisms attached to them. Justice Scalia and Justice Ginsburg pose on an elephant in Rajistan during their tour of India in 1994. Collection of the Supreme Court of the United StatesBut asked on Thursday whether she thought collegiality is important for the court, Kagan made clear that while she saw it as important, it shouldn’t ultimately matter to the public.
Persons: Elena Kagan, ” Kagan, Kagan, , , , John Roberts, “ I’m, Roberts, Trump, Joe Biden, Feedback Biden, , ’ ”, eked, Donald Trump’s, Barack Obama, Antonin Scalia, Ruth Bader Ginsburg, Justice Scalia, Ginsburg, collegiality, shouldn’t Organizations: California CNN, Democratic, Judicial, Department, GOP, Biden, Department of Education, Trump, CNN Locations: Sacramento, California, Washington, Rajistan, India
Justice Amy Coney Barrett, 52, is the youngest member of the Supreme Court and the junior member of its conservative supermajority. Last week, she completed what was only her third full term. Yet she has already emerged as a distinctive force on the court, issuing opinions that her admirers say are characterized by intellectual seriousness, independence, caution and a welcome measure of common sense. In the term that ended last week, she delivered a series of concurring opinions questioning and honing the majority’s methods and conclusions. And she voted with the court’s three-member liberal wing in March, saying the majority had ruled too broadly in restoring former President Donald J. Trump to the Colorado ballot.
Persons: Amy Coney Barrett, dissents, Biden, Donald J, Trump Organizations: Supreme Locations: Colorado
Near the end of his opinion on executive immunity, Chief Justice John G. Roberts Jr. pooh-poohed the fears of his liberal colleagues who worried in dissent that the broad protections the Supreme Court had conferred on former President Donald J. Trump would place future presidents beyond the reach of the law. The real concern, Chief Justice Roberts said, was not that immunity would embolden presidents to commit crimes with impunity, but rather that without it, the country’s rival leaders would endlessly be at each others’ throats. “The dissents overlook the more likely prospect of an executive branch that cannibalizes itself,” he wrote, “with each successive president free to prosecute his predecessors.”That dark vision, however right or wrong it proves to be, did not come out of nowhere: It was offered to the court by Mr. Trump’s own lawyers during oral arguments on the question of immunity that took place in April.
Persons: John G, Roberts Jr, Donald J, Trump, Justice Roberts, , Trump’s
But Congress may not criminalize the President’s conduct in carrying out the responsibilities of the Executive Branch under the Constitution. Juries can’t even consider official acts in terms of a prosecution, according to the Supreme Court. This case poses a question of lasting significance: When may a former President be prosecuted for official acts taken during his Presidency? She said they could easily have expressed that some of Trump’s conduct was unofficial. Sorting private from official conduct sometimes will be difficult—but not always.
Persons: Donald Trump’s, Trump, John Roberts, Here’s Roberts, , Roberts, , , Jack Smith’s, John Sauer, Amy Coney Barrett, Barrett, Mike Pence, Pence, they’re, George Washington’s, Smith, Clarence Thomas, , , Sonia Sotomayor, Trump’s, Sotomayor Organizations: CNN, Trump, Branch, Capitol, Supreme, Government, Founders Locations: Washington ,, Washington, United States
CNN —The Supreme Court handed down a landmark decision Monday granting Donald Trump partial immunity from special counsel Jack Smith’s election subversion case, handing the former president a significant win during his reelection bid. For starters, the Supreme Court ruled that for “core” presidential activity, Trump has the absolute immunity he had sought. The analysis about what’s immune and what isn’t “ultimately is best left to the lower courts to perform,” Roberts wrote. Immune, immune, immune,” she wrote. In a significant break from the court’s other conservatives, Barrett seemed to suggest Trump should go to trial quickly.
Persons: Donald Trump, Jack Smith’s, Smith, John Roberts, , ” Roberts, , Trump, Justice Department –, isn’t “, Roberts, What’s, Tanya Chutkan, Sonia Sotomayor, Sotomayor, ” Sotomayor, Honig, Justice Ketanji Brown Jackson, ” Trump’s, Barrett, Amy Coney Barrett, Trump’s, ” Barrett, David Cole, Thomas, Clarence Thomas, Merrick Garland, Garland, hasn’t, ” Thomas, CNN’s Katelyn Polantz Organizations: CNN, Supreme Court, Justice Department, Trump, American Civil Liberties Union, Senate Locations: Washington , DC, Florida
The Supreme Court heard two other cases this term concerning the Jan. 6 attack on the Capitol. Chief Justice John G. Roberts Jr., writing for the majority, said Mr. Trump had at least presumptive immunity for his official acts. If Mr. Trump prevails at the polls, he could order the Justice Department to drop the charges. After the appeals court ruled against Mr. Trump, he asked the Supreme Court to intervene. At the argument, several of the conservative justices did not seem inclined to examine the details of the charges against Mr. Trump.
Persons: Donald J, Trump, John G, Roberts, Broad, ” “, Justice Roberts, , Sonia Sotomayor, , Trump’s, Mike Pence, Justice Sotomayor, Tom Brenner, Tanya S, Jack Smith, Smith’s, Neil M, Gorsuch Organizations: Capitol, Justice Department, Department, Mr, The New York Times, Federal, Court, U.S ., Appeals, District of Columbia Circuit, Trump Locations: United States, Washington
The Supreme Court heard two other cases this term concerning the Jan. 6 attack on the Capitol. Chief Justice John G. Roberts Jr., writing for the majority, said Mr. Trump had immunity for his official acts. Two of the four charges against Mr. Trump are based on that law. After the appeals court ruled against Mr. Trump, he asked the Supreme Court to intervene. At the argument, several of the conservative justices did not seem inclined to examine the details of the charges against Mr. Trump.
Persons: Donald J, Trump, John G, Roberts, , Sonia Sotomayor, Tom Brenner, Tanya S, Jack Smith, Smith’s, Neil M, Gorsuch Organizations: Capitol, , The New York Times, Justice Department, Federal, Court, U.S ., Appeals, District of Columbia Circuit, Trump, Mr Locations: Washington, United States
Supreme Court Justices Sonia Sotomayor, Ketanji Brown Jackson and Elena Kagan laid out grim visions of U.S. democracy in their joint written dissents to the court's Monday decision on former President Donald Trump's claim of presidential immunity from criminal prosecution. "In every use of official power, the President is now a king above the law," Sotomayor wrote. It's more of a warning," LaCroix told CNBC in an interview about the three dissents, written by the only three justices nominated to the court by Democratic presidents. The immediate effect was to send special counsel Jack Smith's criminal election fraud case against Trump back to U.S. District Judge Tanya Chutkan. She will have to rule on whether the criminal charges pertain to official acts Trump carried out as president, granting him immunity, or his private conduct.
Persons: Sonia Sotomayor, Ketanji Brown Jackson, Elena Kagan, Donald Trump's, Sotomayor, Jackson, Alison LaCroix, LaCroix, Jack, Tanya Chutkan, Trump Organizations: University of Chicago, CNBC, Democratic, Trump, Republicans Locations: U.S
CNN —As the conservative Supreme Court majority has won case after case in recent days, liberal dissenters are having their moment in the courtroom. Other justices stared out at spectators or down at notes, perhaps anticipating the next opinions, and dissents, to be revealed. The court majority reversed a 1984 milestone that required judges to defer to reasonable agency interpretations of their congressional mandates. Her oral dissent lasted nearly 15 minutes, about five minutes longer than Roberts’ rendition of the majority opinion. They begin with the author of the majority opinion delivering the facts of the case, law involved, and the resolution.
Persons: Sonia Sotomayor, Elena Kagan, Ketanji Brown Jackson, Neil Gorsuch, Sotomayor, , , ” Gorsuch, John Roberts, Kagan, Roberts, They’ve, Kagan’s, ” Kagan, Roe, Wade, Gorsuch, Sotomayor’s, Antonin Scalia, Jackson, Amy Coney Barrett, Barrett, improvidently, Samuel Alito, Clarence Thomas, ” Alito, Biden, chiding Organizations: CNN, Friday, Natural Resources Defense, , Securities and Exchange Commission, SEC, US Justice Department, Labor, Conservative Locations: Oregon, Grants, American, Idaho
Even as the court is sometimes finding wider-than-expected majorities for relatively limited outcomes, the nine justices are regularly in conflict over the meaning of decisions. A number of lower-profile cases have also sparked deep doctrinal divisions, even when the final vote count is lopsided. “It does seem, at least anecdotally, unusual to have this many separate opinions in cases with relatively lower stakes,” said Steve Vladeck, CNN Supreme Court analyst and professor at the University of Texas School of Law. The Supreme Court earlier this month tossed out an appeal from anti-abortion doctors challenging expanded access to the abortion pill mifepristone. Among them, Justice Sonia Sotomayor slammed the court’s majority opinion for its reliance on history to decide the trademark dispute.
Persons: , Steve Vladeck, , dinged, councilwoman, Brett Kavanaugh, ” Kavanaugh, Donald Trump, Jack Smith’s, yank Trump, Trump, Amy Coney Barrett, Samuel Alito, Kavanaugh, ” Barrett, Aziz Huq, Huq, Moore, John Roberts ’, hasn't, Neil Gorsuch chimed, Justice Ketanji Brown Jackson, ” Alito, Clarence Thomas, Alito, it’s, Sylvia Gonzalez, Florida GOP Sen, Marco Rubio, Sonia Sotomayor Organizations: CNN, University of Texas School of Law, Trump, Capitol, University of Chicago, New York, Police, Florida GOP, Republican Locations: Moore, Texas, Trump, concurrences
Alito has long made clear his special solicitude for religious claims, whether before the court or on the flagpole outside his house. Still, it should shock us to hear him lay out his worldview so bluntly — and to a woman he never met before. It shows an utter lack of regard for the court’s delicate posture of neutrality in the constitutional system and American society. For a long time, Alito seemed like an outlier on the court, lobbing his sour, grievance-filled dissents from the sidelines. In that regard, this is really the Alito court.
Persons: Roberts, Samuel Alito can’t, , , Alito, Mike Johnson, theocrats Locations: godliness
The Supreme Court, Tatel wrote, has “kicked precedent to the curb” and become “a tragedy” for civil rights and the rule of law. He said she revealed early dealings among justices that eventually led to the milestone 2013 Shelby County v. Holder decision undermining the Voting Rights Act. ‘John Stevens didn’t step down until he was ninety,” Tatel wrote. He served as director of the Chicago Lawyers’ Committee for Civil Rights Under Law and then as director of the National Committee. During the Jimmy Carter administration, he led the Office of Civil Rights at the Department of Health, Education and Welfare.
Persons: David Tatel, , John Roberts, Bill Clinton, Tatel, Roberts, Ruth Bader Ginsburg, Holder, Ginsburg, , , ‘ John Stevens didn’t, ” Tatel, , Ruth, Hillary Clinton, Donald Trump, Obama, , Trump, Amy Coney Barrett, Roe, Wade, Dobbs, Justice Ginsburg, “ I’ve, Jimmy Carter, Clinton, ” Roberts, Dick Cheney, “ …, Scalia, Cheney, , David, Joe Biden, I’ve Organizations: CNN, Democrat, Jackson, Health Organization, Chicago Lawyers ’, Civil, Law, National Committee, Department of Health, Education, Welfare, DC Circuit, US Department of Justice, Northwest Austin, Civil Rights Movement, Court, Supreme Locations: County, Washington, Shelby County, Northwest, Northwest Austin
The ruling will have an impact beyond the Louisiana district, which likely explains the vote count, said CNN Supreme Court analyst Steve Vladeck. The Supreme Court has never defined what constitutes a “last-minute” election decision that should bar courts from weighing into such disputes. In a brief dissent, Justice Ketanji Brown Jackson said it was premature for the Supreme Court to intervene in the case. Louisiana came to the Supreme Court caught between two lower court orders. Two years ago, the Supreme Court allowed that map to be used in the midterm even though a lower court said it was likely illegal.
Persons: Sen, Cleo Fields, , , Liz Murrill, , Steve Vladeck, Vladeck, Purcell, Justice Ketanji Brown Jackson, Purcell “, ” “, ” Jackson, Jackson, ” Vladeck, “ Today’s, Garret Graves, Jeff Landry’s, ” Michael McClanahan, ” Edward Greim, Paul Hurd Organizations: CNN, Democrats, Representatives, Democrat, Republican, US, CNN Supreme, Black, University of Texas School of Law, Louisiana Gov, Court, Supreme, White Republicans, White, NAACP Louisiana State Conference, Locations: Black, Louisiana, Shreveport, Baton Rouge, Rep, Bayou, Republican Louisiana
Markets typically respond to Fed comments with price swings in either direction, and recent research shows they are particularly reactive to Powell. And given the Fed's "data-dependent" approach, the baseline can change rapidly as new economic reports are released. "So now we're stuck with a system where there's only one view, there's only one outlook, it's a baseline outlook. And there's really no way to understand the Fed's thinking about where are the risks." Watch the video above to learn more about how the Fed's busy speaking schedule can create market volatility and how it balances transparency with market impact.
Persons: Jerome Powell, Powell, Andrew Levin, , Levin, Ben Bernanke Organizations: Fed, Federal, Center for Economic Policy Research, Dartmouth College, Federal Reserve Locations: Federal, what's
The Supreme Court refused on Tuesday to block a Texas law that seeks to limit minors’ access to pornography on the internet by requiring age verification measures like the submission of government-issued IDs. A petition seeking review of an appeals court’s ruling upholding the law remains pending. A trade group, companies that produce sexual materials and a performer challenged the law, saying that it violates the First Amendment right of adults. The law does not allow companies to retain information their users submit. But the challengers said adults would be wary of supplying personal information for fear of identity theft, tracking and extortion.
Locations: Texas
CNN —The Supreme Court on Monday turned away Tesla CEO Elon Musk’s request to back out of a settlement agreement he struck with the Securities and Exchange Commission in 2018 over a series of tweets about the car maker that regulators alleged were fraudulent. To avoid enforcement, Musk agreed to a settlement that required him to have a company lawyer approve his social media posts about Tesla. Though he agreed to the “Twitter sitter” provision, Musk has subsequently challenged it as a violation of his First Amendment rights. The Supreme Court rejected Musk’s appeal without comment and there were no noted dissents. A US District Court and the 2nd US Circuit Court of Appeals rejected Musk’s request to declare the Twitter sitter provision unenforceable.
Persons: Elon Musk’s, Musk’s, , Musk, Organizations: CNN, Securities and Exchange Commission, SEC, Court, US, Appeals
The Supreme Court on Friday rejected a request from an L.G.B.T.Q. student group at a public university in Texas to let it put on a drag show on campus over the objections of the university’s president, who had refused to allow it. Drag shows are increasingly a target of the right, with some Republican-led states, including Florida and Tennessee, seeking to restrict the performances. The student group, Spectrum WT, first sought to sponsor the drag show, a charity event to raise money for suicide prevention, in March 2023. Walter Wendler, the president of West Texas A&M University, canceled it, citing the Bible and other religious texts.
Persons: , Walter Wendler Organizations: Republican, WT, West Texas, M University Locations: Texas, Florida, Tennessee
CNN —The family of the late liberal Justice Ruth Bader Ginsburg wants her name pulled off an award after the foundation in charge of doling it out named SpaceX CEO Elon Musk and conservative media mogul Rupert Murdoch among this year’s recipients. In addition to Musk and Murdoch, lifestyle icon Martha Stewart, actor Sylvester Stallone and financier Michael Milken are also recipients of the award. The Ginsburg award “celebrates leaders who have demonstrated extraordinary accomplishments in their chosen fields,” according to an announcement by the foundation on Wednesday. “Justice Ginsburg fought not only for women but for everyone,” said Julie Opperman, chair of the foundation, in a statement accompanying the announcement this week. Barbra Streisand receives The Justice Ruth Bader Ginsburg Woman of Leadership Award on July 1, 2023 in Malibu, California.
Persons: Ruth Bader Ginsburg, Elon Musk, Rupert Murdoch, Ginsburg’s, Ginsburg, , Trevor Morrison, Murdoch, Martha Stewart, Sylvester Stallone, Michael Milken, , Barbra Streisand, “ Justice Ginsburg, Julie Opperman, Stewart, ” Murdoch, Kevin Mazur, Dwight D, Morrison, CNN’s Devan Cole Organizations: CNN, SpaceX, Opperman, , New York University School of Law Locations: Malibu , California
CNN —The Supreme Court on Friday denied a request by a Texas college student group to host a drag show on campus, siding with the school’s decision to prohibit the performance. Spectrum WT and two student leaders of the LGBTQ group filed an emergency petition with the high court asking that it be allowed to put on the show at West Texas A&M University. The brief order by the Supreme Court on Friday doesn’t resolve the issue but means the group will not be able to put on the performance while the litigation continues. The conservative 5th US Circuit Court of Appeals will hear arguments in the case the week of April 29. “The show,” Morris said, “is not over.”A spokesman for West Texas A&M University declined to comment on the pending litigation.
Persons: Walter Wendler, Wendler, Matthew Kacsmaryk, Kacsmaryk, Donald Trump, ” Kacsmaryk, JT Morris, ” Morris, , Organizations: CNN, WT, West Texas, M University, US, Supreme, Foundation, Rights, Circuit Locations: Texas
In Trump Cases, Supreme Court Cannot Avoid Politics
  + stars: | 2024-03-05 | by ( Adam Liptak | ) www.nytimes.com   time to read: 1 min
In major cases concerning former President Donald J. Trump, the Supreme Court has tried to put some distance between itself and politics. “If the court is trying to stay out of the political fray, it is failing miserably,” said Melissa Murray, a law professor at New York University. The case for attempted unity at the court in cases involving the former president is built on 27 data points, or nine votes each in three important rulings, all nominally unanimous. Those rulings suggest that the justices are trying to find consensus and avoid politics. There were no dissents, for instance, in Monday’s Supreme Court decision letting Mr. Trump stay on ballots nationwide despite a constitutional provision that bars insurrectionists from holding office.
Persons: Donald J, Trump, , , Melissa Murray Organizations: New York University
The Supreme Court cleared the way on Thursday for a $2.4 billion plan to settle sex abuse lawsuits against the Boy Scouts of America to go forward. The court’s brief, unsigned order gave no reasons, which is typical for emergency applications. There were no public dissents. A group of victims had asked the court to pause the plan as the justices consider an opioid settlement against Purdue Pharma, the manufacturer of OxyContin, and the members of the wealthy Sackler family who owned it, because that deal raised similar issues. Like the Purdue Pharma deal, the Boy Scouts agreement was settled in bankruptcy court using a contentious mechanism that insulates a third party from future lawsuits even without requiring that party to declare bankruptcy.
Persons: Sackler Organizations: Boy Scouts of, Purdue Pharma, Boy Scouts Locations: Boy Scouts of America
The Supreme Court declined on Friday to temporarily block race-conscious admissions at the U.S. Military Academy at West Point, clearing the way for the school to continue considering race as a factor in selecting the class that will enroll in the fall. The court’s order rejected a request for emergency relief from Students for Fair Admissions, a conservative group that has repeatedly challenged the consideration of race in higher education, as a lawsuit moves forward. It had asked the justices to act swiftly because West Point was poised to stop accepting applications on Wednesday. The founder of Students for Fair Admissions, Edward Blum, cast the court’s decision as a setback. “It is disappointing that the young men and women who apply to West Point for the foreseeable future will have their race used as a factor to admit or reject them,” he said in a statement.
Persons: Edward Blum, Organizations: U.S . Military Academy, West, Fair
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