One of two Democratic Commissioners in the Federal Trade Commission whom the President Donald Trump sudden fired Tuesday warned that it can diminish it to reduce the stability of the market.
“It’s not just a FTC, it’s not about my job,” said former Rebecca Commissioner Kelly Slaughter on Wednesday at CNBC “Squawk on the street. “
“This is a police capacity for FTC to police markets and provides protection of fair companies, instead of allowing companies that lie and cheat on them,” she said.
“And it’s not just about FTC, but of all the structures of government that protects the market stability,” she said. “So, markets that depend on the stability provided by government institutions should be very concerned.”
The Slaughter Comments arrived in the midst of a period of difficult turbulence on the stock market, as investors face the uncertainty about Trump’s decisions about politics.
She also spoke shortly before the federal reserves announce her latest interest rate decision.
“If I can be discharged, I don’t know why Jerome Powell can’t be fired,” Slaughter said, referring to President Fed.
Slaughter and Alvaro Bedoya, the only other Democratic Commissioner of FTC, Trump release on Tuesday. The prisoners left only two Republican commissioners at the Agency, which is in charge of the implementation of the Antitrustovsky and consumer protection law.
Democrats claimed that Trump’s move violated the federal law stating that commissioners could only be removed for reasons, such as neglect or abuse in power.
The slaughter on CNBC noted that Supreme Court Supported that law in 1935, setting a precedent that “has not been violated for 90 years”.
But Andrew Ferguson, Trump’s Republican Election that will replace Lina Khan as the president of the FTC, said the president acted in his power.
“I do not doubt his constitutional authority to remove the commissioner, which is necessary to ensure democratic responsibility for our government,” Ferguson said in a statement on Tuesday.
When asked why Trump decided to release Democratic commissioners at the time, the secretary of the Karolina Leavitt White House said: “Since it is time for these people to release, and the president absolutely has the authority for that.”
“There were plenty of notifications in the letter that I believe that your opening was reported,” Leavitt said. Asked if the aim of the administration was to abolish a precedent of 1935, Leavitt replied: “The goal was to let those individuals. If we have to fight that to the Supreme Court, we must.”
The two removed commissioners still called Trump’s move “illegal.”
“This is an ordinary and simple corruption,” Bedoy wrote on X, accusing Trump of wanting to turn FTC into “Lapdog for his golf friends.”
Ever since he assumed his duty, Trump worked to rearrange the Government, pushing independently Agency leaders and drastically reduced agencies through the Dogeo Supervisory Initiative Elon musk.
February 18 Trump signed Executive command give yourself more power over independent regulatory agencies.
Four days earlier, Axios reported That Ferguson has supported the opinion that the presidents can fire independent agencies at will.
Federal judges have ruled At the beginning of March, Trump was wrongly trying to remove two members of the Federal Committee. Trump’s administration attracts those judgments.
Slaughter warned on Wednesday that her “unprecedented” shooting casts doubt and confusion on more active lawsuits of FTC.
“The Commission is in active disputes against all companies, whose executive directors have been on their president’s inauguration,” she said.
