Executive Oversight: A New Chapter or Familiar Pattern? On February 18, 2025, President Donald Trump signed an executive order titled “Ensuring Accountability for all Agencies.” The order expresses concern that so-called “independent regulatory agencies” have functioned with minimal oversight and that their substantial authority lacks sufficient accountability to the executive branch. The premise of the order—greater transparency and coordination between regulators and elected leadership—may seem straightforward. Many Americans, across ideological lines, have long expressed frustration with unelected bureaucracies that operate at arm’s length from democratic accountability. But as with any significant shift in governance, the implications merit closer examination. One Major Exception: The Federal Reserve The order directs that all proposed regulatory actions from executive agencies, including independent ones, be…
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