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A few short months after Donald Trump began his tumultuous second occupation of the White House, I was invited by an old friend who runs a Congressional advisory firm to join him at a Washington Nationals baseball game against the Los Angeles Dodgers. 

Trump had just announced his punishing Liberation Day tariffs, which have robbed Britain of 11 per cent of its goods exports to the US, and we discussed who might curb the extraordinary powers assumed by the White House. 

My friend was clear. Congress, controlled by genuflecting Republicans, would be powerless. All that stood between the US and an elected dictatorship was the Supreme Court. 

Even though Trump had sought to pack the Court with three likeminded Republicans, giving the Right a majority, once the justices put on their black robes, there was no guarantee the President would have his way. 

Today, July 4, as America commemorates its 250th birthday, there are healthy signs that the Supreme Court is not totally capitulating to Trump. 

Critically for the global economy, his efforts to overturn the independence of the US central bank, the Federal Reserve, have failed. 

Signs: There are healthy signs that the Supreme Court is not totally capitulating to Trump

A ruling last week turned back the President’s effort to sack Fed interest rate setter Lisa Cook on specious mortgage fraud accusations. It ruled that meddling in the affairs of the central bank was off-limits, citing ‘tradition’. Presidential efforts to drive interest rates down have been rejected. 

Crude attacks on previous Fed chairman Jay Powell were resisted. Trump’s goal of a more compliant chair in Powell’s replacement Kevin Warsh also looks to be floundering. 

He vowed this week to stick firmly to the 2 per cent inflation target, disappointing White House hopes of rate cuts. The Supreme Court’s record when it comes to Trumpism is mixed. 

Conservative control saw Roe vs Wade, the right to abortion, cast aside after nearly 50 years in 2022. 

In recent days, the Court ruled against Trump’s effort to curtail birthright citizenship for some children born in the US – including two of my own. Across the economic landscape, Trump and his apparatchiks did win a victory for executive power. 

The White House has aggressively sought to fillet government agencies of liberal Left-leaning and Democratic officials. 

Most prominently, it sacked a Democratic member of the Federal Trade Commission, which enforces anti-trust laws. Trump didn’t like its efforts to curtail the power of big tech, which has mostly shamelessly embraced the White House agenda. The Supreme Court upheld the dismissal. 

There was a glimmer of hope this week when I heard from a Washington friend heading a critical Congressional agency dealing with the legal implications of AI. 

Last year, they were sacked because the White House took against reported political leanings. 

The appeals court reinstated my pal and the Supreme Court has just blocked a motion by the Trump Administration to enforce the dismissal. 

Thankfully, the checks and balances of America’s founding fathers are still, just

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