| Federal Reserve Chair Jerome Powell, European Central Bank President Christine Lagarde and Roberto Campos Neto, governor of Banco Central do Brasil, will speak at a Forum on Central Banking event at 9:30 a.m. … Job openings for May will be released at 10 a.m. … Immunity — The Supreme Court on Monday ruled that Trump has immunity from criminal prosecution for some actions he took as president while trying to reverse the outcome of the 2020 election, Josh Gerstein and Kyle Cheney report. In the majority opinion, Chief Justice John Roberts wrote that former presidents have “absolute” immunity from criminal prosecution over actions that fall within their “core constitutional powers.” “There is no immunity,” Roberts wrote, for “unofficial acts.” — Biden attacked the ruling in a short speech from the White House on Monday evening: “This decision today has continued the court's attack in recent years on a wide range of long-established legal principles,” he said. “From gutting voting rights and civil rights to taking away women's right to choose, to today's decision that undermines the rule of law of this nation.” Here comes JOLTS — The Labor Department will release its monthly job openings report for May at 10 a.m. The median estimate is that there were 7.9 million open positions that month, which would represent a continuation of a gradual decline from a peak of 12.2 million in March 2022. Bankers on the Hill — Zach Warmbrodt scoops that JPMorgan Chase, Bank of America and Wells Fargo executives are expected to testify about fraud concerns on the Zelle payment system at a Senate hearing on July 23. Synapse’s missed connections — Senate Banking Chair Sherrod Brown, Finance Chair Ron Wyden and Sens. Tammy Baldwin and John Fetterman are urging partners and investors of the collapsed fintech company Synapse to return money from tens of thousands of frozen accounts of affected customers, Eleanor Mueller reports. Lawyer up — The Supreme Court also ruled that a North Dakota truck stop could sue the Federal Reserve over its 2011 debit card swipe fee rule, Victoria Guida reports. The court’s 6-3 majority ruling held that the Administrative Procedure Act’s six-year statute of limitations “does not accrue … until the plaintiff is injured by final agency action.” In other words, businesses may soon begin suing federal agencies over regulations that are decades old. Justice Ketanji Brown Jackson in her dissent argued that the decision would authorize “a tsunami of lawsuits” with “the potential to devastate the functioning of the Federal Government.” Biden’s student loan reprieve — An appellate court granted an emergency motion that lifted a block on components of the Biden administration’s student debt relief plan, Rebecca Carballo reports.
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