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The Supreme Court issued two highly anticipated decisions on Monday involving the Federal Reserve and the Federal Trade Commission, setting off a new chapter in the long-running debate over how much authority independent federal agencies hold over the American economy.
The rulings, which the court signaled carry far-reaching consequences for household finances, land at a moment of acute public sensitivity to the cost of borrowing and the conduct of large corporations.
Two Pillars of Consumer Protection Under Review The Federal Reserve and the Federal Trade Commission occupy distinct but complementary roles in the financial lives of ordinary Americans.
The Fed sets the benchmark interest rate that flows through mortgages, auto loans, and credit card balances, while the FTC polices deceptive and anticompetitive business practices that affect what consumers pay and how they are treated in the marketplace.
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