NEW YORK (Reuters Breakingviews) – The Supreme Court is showing its age. The battle to replace Justice Ruth Bader Ginsburg, who died earlier this month, shows that an institution created in the 18th century is creaking under the weight of an entrenched two-party system. But those who dream of reforming Americaâs top court could take tips from a much newer body: the Federal Reserve.
While one guards the U.S. Constitution and the other sets interest rates, the two organs have much in common. Both have unelected appointees who supposedly operate free of political pressure. The Fed has its independence, and the president canât fire a justice if he dislikes a decision. They also both wield tremendous power. The nine justices can make sweeping decisions affecting everything from civil rights to campaign finance. Fed Chair Jay Powell used wide-ranging powers to effectively rescue the entire financial system this spring.