@bendinovelli.bsky.social
Academic Fellow, Vanderbilt Policy Accelerator (@vandylaw.bsky.social). Research networks, platforms, and utilities. Views are my own.
Reposted
Early 2025: Trump admin tries to illegally shut down the CFPB, the newest member of the Federal Reserve system. Jay Powell says nothing.
Summer 2025: Trump admin tries to illegally fire Fed Governor Lisa Cook. Powell says nothing.
2026: Trump admin comes for Powell. He finally finds his voice.
Summer 2025: Trump admin tries to illegally fire Fed Governor Lisa Cook. Powell says nothing.
2026: Trump admin comes for Powell. He finally finds his voice.
Video message from Federal Reserve Chair Jerome H. Powell:
www.youtube.com/watch?v=KckG...
www.federalreserve.gov/newsevents/s...
www.youtube.com/watch?v=KckG...
www.federalreserve.gov/newsevents/s...
Statement by Federal Reserve Chair Jerome H. Powell
YouTube video by Federal Reserve
www.youtube.com
January 12, 2026 at 1:57 AM
Early 2025: Trump admin tries to illegally shut down the CFPB, the newest member of the Federal Reserve system. Jay Powell says nothing.
Summer 2025: Trump admin tries to illegally fire Fed Governor Lisa Cook. Powell says nothing.
2026: Trump admin comes for Powell. He finally finds his voice.
Summer 2025: Trump admin tries to illegally fire Fed Governor Lisa Cook. Powell says nothing.
2026: Trump admin comes for Powell. He finally finds his voice.
Reposted
i think powell's response here is a demonstration of the folly of the idea that democratic accountability requires presidential control. what if the president is not acting in the public interest? you want independent agencies to be able to push back and pursue their *congressional mandate*
Powell, showing more guts than almost any GOP legislators:
"The threat of criminal charges is a consequence of the Fed setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President."
www.federalreserve.gov/newsevents/s...
"The threat of criminal charges is a consequence of the Fed setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President."
www.federalreserve.gov/newsevents/s...
January 12, 2026 at 1:43 AM
i think powell's response here is a demonstration of the folly of the idea that democratic accountability requires presidential control. what if the president is not acting in the public interest? you want independent agencies to be able to push back and pursue their *congressional mandate*
Reposted
Today, @raulcarrillo.bsky.social explains why existing legal frameworks are inadequate to address the emerging dystopian world of monetary fiefdoms—a world in which private infrastructure governs without the name of government.
Game Over: The End of Financial Regulation as We Knew It
Many on the left continue to view cryptocurrency as little more than a grift. Yet the crypto industry aims to achieve something much more dangerous: functional monetary sovereignty.
lpeproject.org
December 24, 2025 at 3:41 PM
Today, @raulcarrillo.bsky.social explains why existing legal frameworks are inadequate to address the emerging dystopian world of monetary fiefdoms—a world in which private infrastructure governs without the name of government.
Reposted
Digging up roads is 75–90% of the cost of deploying broadband, yet we keep excavating again & again. A smarter approach: install conduit when roads are open. @bendinovelli.bsky.social and my new paper explains why most Dig Once policies fall short & how to fix them cdn.vanderbilt.edu/vu-URL/wp-co...
cdn.vanderbilt.edu
December 12, 2025 at 3:58 PM
Digging up roads is 75–90% of the cost of deploying broadband, yet we keep excavating again & again. A smarter approach: install conduit when roads are open. @bendinovelli.bsky.social and my new paper explains why most Dig Once policies fall short & how to fix them cdn.vanderbilt.edu/vu-URL/wp-co...
Reposted
22/ Kavanaugh suggests two exceptions:
a) The Fed
b) Non-Article III judicial officers like Marbury?
Kavanaugh has his history wrong, as amicus briefs have explained.
The Banks of the US are no precedent of the Fed.
Marbury was an executive officer with quasi-judicial powers.
a) The Fed
b) Non-Article III judicial officers like Marbury?
Kavanaugh has his history wrong, as amicus briefs have explained.
The Banks of the US are no precedent of the Fed.
Marbury was an executive officer with quasi-judicial powers.
December 8, 2025 at 3:50 PM
22/ Kavanaugh suggests two exceptions:
a) The Fed
b) Non-Article III judicial officers like Marbury?
Kavanaugh has his history wrong, as amicus briefs have explained.
The Banks of the US are no precedent of the Fed.
Marbury was an executive officer with quasi-judicial powers.
a) The Fed
b) Non-Article III judicial officers like Marbury?
Kavanaugh has his history wrong, as amicus briefs have explained.
The Banks of the US are no precedent of the Fed.
Marbury was an executive officer with quasi-judicial powers.
Reposted
Kav: Why is the Fed different?
Sauer: Because you said so.
Sauer: Because you said so.
December 8, 2025 at 3:19 PM
Kav: Why is the Fed different?
Sauer: Because you said so.
Sauer: Because you said so.
Reposted
10/ Kavanaugh asks if Sauer can distinguish the Fed from the FTC…
A huge question that Lawson & I address in our essay (and also in my amicus brief)
Sauer relies on a paragraph in the Wilcox order…
A huge question that Lawson & I address in our essay (and also in my amicus brief)
Sauer relies on a paragraph in the Wilcox order…
December 8, 2025 at 3:19 PM
10/ Kavanaugh asks if Sauer can distinguish the Fed from the FTC…
A huge question that Lawson & I address in our essay (and also in my amicus brief)
Sauer relies on a paragraph in the Wilcox order…
A huge question that Lawson & I address in our essay (and also in my amicus brief)
Sauer relies on a paragraph in the Wilcox order…
Worth noting that the Board of Governors of the Federal Reserve System is not a “congressionally chartered bank[]”, but an independent agency (like the FTC, MSPB, and NLRB)…
December 5, 2025 at 7:27 PM
Worth noting that the Board of Governors of the Federal Reserve System is not a “congressionally chartered bank[]”, but an independent agency (like the FTC, MSPB, and NLRB)…
Reposted
New essay in Politico today w/ @aratip.bsky.social on how Trump's “Genesis Mission” is one small step forward after giant leaps backward. The Trump AI doctrine really just boils down to boosting friendly tech companies. www.politico.com/news/magazin...
Trump Is Taking Three Steps Backward in the AI Race
The administration needs to shift focus away from providing chips and datacenters to the world’s richest companies.
www.politico.com
December 3, 2025 at 7:54 PM
New essay in Politico today w/ @aratip.bsky.social on how Trump's “Genesis Mission” is one small step forward after giant leaps backward. The Trump AI doctrine really just boils down to boosting friendly tech companies. www.politico.com/news/magazin...
Reposted
2/ Here’s my amicus brief in Slaughter that summarizes our argument:
The Necessary & Proper Clause is a stronger originalist basis to replace Humphrey's Executor, to limit congressional power, & to confirm narrow traditional exceptions for the FTC & the Fed:
www.supremecourt.gov/DocketPDF/25...
The Necessary & Proper Clause is a stronger originalist basis to replace Humphrey's Executor, to limit congressional power, & to confirm narrow traditional exceptions for the FTC & the Fed:
www.supremecourt.gov/DocketPDF/25...
www.supremecourt.gov
November 18, 2025 at 11:31 AM
2/ Here’s my amicus brief in Slaughter that summarizes our argument:
The Necessary & Proper Clause is a stronger originalist basis to replace Humphrey's Executor, to limit congressional power, & to confirm narrow traditional exceptions for the FTC & the Fed:
www.supremecourt.gov/DocketPDF/25...
The Necessary & Proper Clause is a stronger originalist basis to replace Humphrey's Executor, to limit congressional power, & to confirm narrow traditional exceptions for the FTC & the Fed:
www.supremecourt.gov/DocketPDF/25...
Reposted
📢Current scholarship! In "The Myth of Credit Card Competition" @bendinovelli.bsky.social argues that mainstream reform proposals to curb the high cost of credit card payments by increasing competition are misplaced, and that public utility law may hold the key for more promising alternatives. 👇
Current ScholarshipThe Myth of Credit Card Competition
Benjamin Dinovelli
justmoney.org
November 17, 2025 at 9:50 PM
📢Current scholarship! In "The Myth of Credit Card Competition" @bendinovelli.bsky.social argues that mainstream reform proposals to curb the high cost of credit card payments by increasing competition are misplaced, and that public utility law may hold the key for more promising alternatives. 👇
Reposted
A new paper from Gary Lawson & me:
"Presidential Removal as Article I, Not Article II"
Limits on congressional power to create independent agencies like the Fed & FTC don't come from Art II "Executive Power" absolutism.
See the Necessary and Proper Clause instead:
papers.ssrn.com/sol3/papers....
"Presidential Removal as Article I, Not Article II"
Limits on congressional power to create independent agencies like the Fed & FTC don't come from Art II "Executive Power" absolutism.
See the Necessary and Proper Clause instead:
papers.ssrn.com/sol3/papers....
Presidential Removal as Article I, Not Article II
As a matter of original public meaning, Article I's Necessary and Proper clause is the starting point for both Congress's power to create offices and the limits
papers.ssrn.com
November 11, 2025 at 9:53 PM
A new paper from Gary Lawson & me:
"Presidential Removal as Article I, Not Article II"
Limits on congressional power to create independent agencies like the Fed & FTC don't come from Art II "Executive Power" absolutism.
See the Necessary and Proper Clause instead:
papers.ssrn.com/sol3/papers....
"Presidential Removal as Article I, Not Article II"
Limits on congressional power to create independent agencies like the Fed & FTC don't come from Art II "Executive Power" absolutism.
See the Necessary and Proper Clause instead:
papers.ssrn.com/sol3/papers....
Reposted
A few trillion-dollar companies now comprise an AI oligopoly. Nvidia's announcement to invest $100B in OpenAI makes things worse. As I say in TIME, vertical integration is about money, control, and power. Policymakers should reject such combinations. time.com/7322418/chat...
We Need to Break Up Big AI Before It Breaks Us
When the same few companies own the entire tech stack, they stop competing and start colluding.
time.com
October 6, 2025 at 10:12 AM
A few trillion-dollar companies now comprise an AI oligopoly. Nvidia's announcement to invest $100B in OpenAI makes things worse. As I say in TIME, vertical integration is about money, control, and power. Policymakers should reject such combinations. time.com/7322418/chat...
Reposted
It just cannot be emphasized enough, as the differential treatment of Slaughter and Cook illustrate yet again, the Roberts Court’s vision of separation of powers is not the Founders’, nor the Constitution’s, but just their own. This isn’t necessarily bad; it’s just disingenuous. (1/2)
October 1, 2025 at 3:56 PM
It just cannot be emphasized enough, as the differential treatment of Slaughter and Cook illustrate yet again, the Roberts Court’s vision of separation of powers is not the Founders’, nor the Constitution’s, but just their own. This isn’t necessarily bad; it’s just disingenuous. (1/2)
Excited to share that my job talk paper, The Myth of Credit Card Competition, is forthcoming in Vanderbilt Law Review!
I explore the limits of competition (through antitrust, consumer law, or regulation) as a solution to high and regressive swipe fees in the credit card payments market. 1/8
I explore the limits of competition (through antitrust, consumer law, or regulation) as a solution to high and regressive swipe fees in the credit card payments market. 1/8
September 3, 2025 at 3:57 PM
Excited to share that my job talk paper, The Myth of Credit Card Competition, is forthcoming in Vanderbilt Law Review!
I explore the limits of competition (through antitrust, consumer law, or regulation) as a solution to high and regressive swipe fees in the credit card payments market. 1/8
I explore the limits of competition (through antitrust, consumer law, or regulation) as a solution to high and regressive swipe fees in the credit card payments market. 1/8
Reposted
Some were sanguine that the Fed’s structure meant the Fed system could remain independent even if Trump gained control of the Board.
But this excellent piece shows how far Trump and his allies could go.
These scenarios would have been unthinkable a few months ago.
www.nytimes.com/2025/08/31/b...
But this excellent piece shows how far Trump and his allies could go.
These scenarios would have been unthinkable a few months ago.
www.nytimes.com/2025/08/31/b...
Trump’s Plan to Pack the Fed With Loyalists
www.nytimes.com
September 1, 2025 at 4:27 PM
Some were sanguine that the Fed’s structure meant the Fed system could remain independent even if Trump gained control of the Board.
But this excellent piece shows how far Trump and his allies could go.
These scenarios would have been unthinkable a few months ago.
www.nytimes.com/2025/08/31/b...
But this excellent piece shows how far Trump and his allies could go.
These scenarios would have been unthinkable a few months ago.
www.nytimes.com/2025/08/31/b...
Reposted
📢More scholarship! @bendinovelli.bsky.social's timely paper revisits the Federal Reserve's ostensibly unique status among administrative agencies. It examines SCOTUS' attempt to except the Fed from case law limiting agency independence, with implications for Fed Governors' legal removal protections.
Current ScholarshipThe Federal Reserve Exception
Benjamin Dinovelli
justmoney.org
August 27, 2025 at 9:38 PM
📢More scholarship! @bendinovelli.bsky.social's timely paper revisits the Federal Reserve's ostensibly unique status among administrative agencies. It examines SCOTUS' attempt to except the Fed from case law limiting agency independence, with implications for Fed Governors' legal removal protections.
Reposted
1/2 Trump should absolutely not be able to fire Lisa Cook.
But this is because he should not be able to fire anyone with statutory tenure protections.
But this is because he should not be able to fire anyone with statutory tenure protections.
August 26, 2025 at 1:23 AM
1/2 Trump should absolutely not be able to fire Lisa Cook.
But this is because he should not be able to fire anyone with statutory tenure protections.
But this is because he should not be able to fire anyone with statutory tenure protections.
Reposted
I wrote about the Supreme Court's recent attempt to protect the Federal Reserve's independence from the Trump Administration. 1/8
papers.ssrn.com/sol3/papers....
papers.ssrn.com/sol3/papers....
The Federal Reserve Exception
<p>The Federal Reserve is arguably the most powerful administrative agency that has ever existed in the United States. Its administrative actions influenc
papers.ssrn.com
June 4, 2025 at 4:59 PM
I wrote about the Supreme Court's recent attempt to protect the Federal Reserve's independence from the Trump Administration. 1/8
papers.ssrn.com/sol3/papers....
papers.ssrn.com/sol3/papers....
Reposted
Similar to Alan, my parents adopted me from South Korea when I was a baby. I have no recollection of Seoul or my biological mother. I also do not know her name or have any details.
To echo: if birthright citizenship becomes a patchwork right, what’s someone like me to do?
To echo: if birthright citizenship becomes a patchwork right, what’s someone like me to do?
I was adopted via closed adoption, born in North Carolina.
It was closed so I have no knowledge of or access to my biological mother’s details. It also means my biological mother isn’t on my birth certificate.
So if birthright citizenship becomes a patchwork right, what’s someone like me to do?
It was closed so I have no knowledge of or access to my biological mother’s details. It also means my biological mother isn’t on my birth certificate.
So if birthright citizenship becomes a patchwork right, what’s someone like me to do?
June 28, 2025 at 4:05 AM
Similar to Alan, my parents adopted me from South Korea when I was a baby. I have no recollection of Seoul or my biological mother. I also do not know her name or have any details.
To echo: if birthright citizenship becomes a patchwork right, what’s someone like me to do?
To echo: if birthright citizenship becomes a patchwork right, what’s someone like me to do?
Reposted
🚨 Very excited to share that my note, Municipalities and the Banking Franchise, is officially out in the @stanlrev.bsky.social! The piece explores the role local governments can play in building a more democratic financial system. papers.ssrn.com/sol3/papers.... 1/10
June 23, 2025 at 11:50 PM
🚨 Very excited to share that my note, Municipalities and the Banking Franchise, is officially out in the @stanlrev.bsky.social! The piece explores the role local governments can play in building a more democratic financial system. papers.ssrn.com/sol3/papers.... 1/10
Reposted
The final version of my job market paper—about the strategies that have facilitated localized corporate domination at different points in our history—is now out. I'm so grateful to the SLR team and everyone else whose feedback has shaped this along the way! www.stanfordlawreview.org/print/articl...
June 16, 2025 at 2:35 PM
The final version of my job market paper—about the strategies that have facilitated localized corporate domination at different points in our history—is now out. I'm so grateful to the SLR team and everyone else whose feedback has shaped this along the way! www.stanfordlawreview.org/print/articl...
But I thought the Fed was “a uniquely structured, quasi-private entity that follows in the distinct historical tradition of the First and Second Banks of the United States”...?
Donald Trump says he may ‘have to force something’ on interest rates
https://www.ft.com/content/87a2c699-be5b-4a3b-9ae1-db3e997633af
https://www.ft.com/content/87a2c699-be5b-4a3b-9ae1-db3e997633af
Donald Trump says he may ‘have to force something’ on interest rates
President calls Federal Reserve chair Jay Powell a ‘numbskull’ for not reducing borrowing costs
www.ft.com
June 12, 2025 at 8:44 PM
But I thought the Fed was “a uniquely structured, quasi-private entity that follows in the distinct historical tradition of the First and Second Banks of the United States”...?
Thank you for reading / highly recommending my piece, @lsolum.bsky.social!
Dinovelli on the Federal Reserve and Removal, buff.ly/iort3UT - Benjamin Dinovelli (Vanderbilt Law School) has posted The Federal Reserve Exception on SSRN.
buff.ly
June 11, 2025 at 4:41 PM
Thank you for reading / highly recommending my piece, @lsolum.bsky.social!
Reposted
The failure to deploy rural broadband has become synonymous with excessive bureaucracy, Asad Ramzanali and Benjamin Dinovelli write. The real story is more complicated:
Red Tape Isn’t the Only Reason America Can’t Build
The failure to deploy rural broadband has become synonymous with excessive bureaucracy. The real story is more complicated.
bit.ly
June 10, 2025 at 1:30 PM
The failure to deploy rural broadband has become synonymous with excessive bureaucracy, Asad Ramzanali and Benjamin Dinovelli write. The real story is more complicated: