Fed Chair Powell says he would not resign if asked

Reuters ^ | 1/4/19 | Anon

[Jane Long]

When this stooge was talking, the market started going down....after rising, in morning.

Maybe he wants to hear, “You’re Fired!”.

[DesertRhino]

By the person with the authority to fire him. In this case, Trump.

[9YearLurker]

Another questionable hire on Trump’s part.

Reportedly he decided not to reappoint Yellen, who at least more closely reflects Trump’s views, because he was afraid that at 5’3” she was too short to lead the Fed (despite her years of having done just that).

[faithhopecharity]

more and more Aholes... the Deep State Enemy Within is very much still in charge of “our” government

[Sparky1776]

If an elected official up to and including a president can be removed via impeachment then an appointed official can be removed, especially by the one who appointed him.

[so_real]

The FED NEEDS COMPETITION. Provide it.

Federal Reserve Is Sued, Accused of Limiting Competition
https://www.nytimes.com/2018/09/06/us/politics/federal-reserve-is-sued-accused-of-limiting-competition.html

[The Pack Knight]

The Federal Reserve is an independent agency. Under the law the Fed Chair is appointed by the President and confirmed by the Senate, but once in office can only be removed for cause. Disagreeing with the President is not sufficient cause for removal.

I think there is a legitimate question as to the constitutionality of that provision, though. Going back to a case called Humphrey's Executor in 1935, the Supreme Court generally held that such "for cause" removal provisions for "independent" federal agencies do not violate Article II of the Constitution where the agency acts primarily in a quasi-legislative or quasi-judicial capacity. But Federal Reserve Board exercises what can only be considered executive power, and limiting the President's power to remove its members or its chairman seems to violate the Appointments Clause of Article II to me.

Of course, we can also talk about the constitutionality of any federal governmental body that is "independent" of Congress, the President, or the federal judiciary, but that genie seems to be out of the bottle.

[Moonman62]

There’s no doubt that Trump disagrees with the Fed’s actions.

...

Anything is better than losing trillions of dollars in wealth and economic productivity due to Powell’s elitist destruction. Trump is right and Powell is wrong. When Powell screws things up (he already is) Trump will be held accountable, not him

[erkelly]

Disagreeing with your boss should be a firing offense, shouldn’t it? President Trump should have fired the whole dang govt the day he took office. He was very ill advised.

[NormsRevenge]

I think Powell got the message.

Trump just has to keep the boat afloat until the next election cycle while all around him try to scuttle it to take him out for their own petty and misguided reasons.

Who needs to be whipping back into shape is a GOP and candidates that can get the job done..

If the RINOs and sleepers of the Left who run as the Right’s candidates are cleansed either of their seat or their indifferent attitudes toward governing, good things can still happen.

If the same old mentality is carried forward by the current crop of GOP “leaders”, Trump’s victories will be pyrrhic as will the nation’s future.

[DoodleDawg]

Disagreeing with your boss should be a firing offense, shouldn’t it?

He doesn't work for Trump. The Fed is an independent agency.

[marajade]

Apparently Powell signaled today he might not raise the two times he said he would in 2019.