Kavanuagh. Gorpus, Alito and Thomas need to read the legislative record that enacted the federal reserve and try to discern what the legislators thought the term “for cause” meant when they inserted that phrase in the law.
RE: Kavanuagh. Gorpus, Alito and Thomas need to read the legislative record that enacted the federal reserve and try to discern what the legislators thought the term “for cause” meant when they inserted that phrase in the law.
What ever it means, it cannot mean because the President DISAGREES with the Fed Chair on Monetary Policy. If the President did and fired the chair simply because he disagrees with his raising interest rates for instance, he might as well BE the Fed chair and make his own policy.
It seems that the “For cause” clause means corruption or personal gain ( e.g., buying or selling bonds knowing what you personally will do in terms of interest rates ).