berg80
Diamond Member
- Oct 28, 2017
- 33,776
- 27,517
- 2,820
- Thread starter
- #101
In this case I care more about proving malfeasance before he removes a Fed governor.Democrats care more about what Trump says than what he does.
Republicans care more about what he does than what he says.
President Trump’s attempt to fire the Federal Reserve governor Lisa Cook is a grab for power in defiance of the nation’s laws, and if it succeeds, it will be to the detriment of the nation’s interests.
When Congress created the Fed in 1913, it gave the president the power to appoint the central bank’s governors, but it did not grant the power to remove them at will. Mr. Trump does not appear to regard that law as a binding constraint. He has made clear that he wants to replace the Fed’s leaders because they have resisted his demands to lower interest rates. In pursuit of this goal, he now says he is firing Ms. Cook because of “potentially criminal” behavior.
The law does allow the president to remove Fed governors “for cause,” and Mr. Trump has not presented any evidence of wrongdoing by Ms. Cook, an economist whom President Joe Biden appointed to the job three years ago. Mr. Trump has asserted that she “may have made false statements on one or more mortgage agreements.” We have two words for the president: Prove it.