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The Supreme Court says President Trump can remove leaders of independent government agencies, except the Fed,

plus Wall Street embraces crypto, as U.S. banks team up to issue a stable coin.

And we look at whether China's efforts to shore up its high-tech industries means the world's second largest economy can go it alone.

Every step in the process now within the Chinese ecosystem is increasingly dominated by Chinese

companies. That is something that is very frustrating for the US government in particular,

and at the same time the Chinese government is not apologizing for this at all.

It's Friday, May the 23rd.

I'm Azhar Sukri for the Wall Street Journal, filling in for Luke Vargas.

And here is the AM edition of What News, the top headlines and business stories moving your world today.

The Supreme Court has ruled that President Trump can remove leaders of independent government agencies,

but crucially not the Federal Reserve.

And while the ruling doesn't explicitly prevent Trump from firing Fed Chair Jerome Powell or any other member of the central bank,

the journals Chelsea Delaney says it does provide

some relief to market participants worried about the Fed's independence. Trump's threats in recent

months to fire the Fed chair have really shaken investors. We did see a big sell-off when he was

...