"... and with more recent Supreme Court decisions. Of course, I agree with my colleagues that only the Supreme Court may overrule its precedents.... Granting a stay of the district court’s injunction, however, does not require this court to claim that
Humphrey’s Executor has been overruled. Instead, the stay is warranted by the Supreme Court’s decisions to stay injunctions ordering the reinstatement of removed officers.... Everyone agrees that FTC commissioners are principal officers who exercise 'substantial executive power.'... The Constitution establishes three departments of the federal government, and the so-called independent agencies are necessarily part of the Executive Branch, not some headless fourth branch. Commissioners of the FTC exercise 'considerable executive power,' and such officers are not entitled to reinstatement while they litigate the lawfulness of their removal...."
Here's the Wikipedia article on
Humphrey's Executor. Excerpt: "The case involved William E. Humphrey, a commissioner of the Federal Trade Commission (FTC) whom President Franklin D. Roosevelt had fired. Roosevelt had fired Humphrey over their policy disagreements involving economic regulation and the New Deal, even though the Federal Trade Commission Act of 1914 prohibited firing an FTC commissioner for any reason other than 'inefficiency, neglect of duty, or malfeasance in office.'"
FDR wrote to Humphrey: "You will, I know, realize that I do not feel that your mind and my mind go along together on either the policies or the administering of the Federal Trade Commission, and, frankly, I think it is best for the people of this country that I should have a full confidence."