Fed Chair says he won't resign if Trump asks him to

[struth]

‘Fed Chair Jay Powell said Thursday that he would not resign if president-elect Donald Trump asked him to. Asked whether he would step down amid chatter that Trump's advisors had suggested he do so, Powell replied, "No."

Trump himself nominated Powell as Federal Reserve chairman in 2017 in his first administration. Powell also said that he was not legally required to leave if asked to do so, and that his staff had determined that the president lacked the capacity under the law to demote, at will, himself or any other Fed governors.

Powell's term is slated to end in May 2026. Powell made the comments during his regularly scheduled remarks following the release of the Federal Open Market Committee's latest statement on interest rate policy. The committee announced a quarter-point cut, a widely expected move.

Representatives for Trump did not immediately respond to a request for comment. Powell's comments will likely be seen as a bid to maintain the Fed's longstanding independence from outside political influence, though whether such immunity actually exists in practice has sometimes been debated.’

Fed Chair says he won't resign if Trump asks him to

Trump appointed Jerome Powell in 2017, during his first term as president.

www.nbcnews.com

Trump, of course, thinks he should have ‘a say.’

Of course he does, many believe the president does have a say, as your link states

With that said trump has no intention of doing so

 

[1srelluc]

Well, if Powell wants to get froggy about it Congress could defund the fed as far as their salaries go.

 

[LeroyDumonde]

Congress needs to change the law to get rid of the maximum employment mandate. Economists use a flawed model that relates inflation and employment so the Fed's decisions are flawed. The so-called Phillips Curve has been known to be wrong for decades.

 

[Orangecat]

Four more years. It's open season on the orange bag O' shit. Nothing is off the table when it comes to smearing his filthy ass.

 

[HikerGuy83]

If Trump can't fire him I think Trump should appoint a overseer to sit right next to Powell and watch and scrutinize everything he does until he quits...

Why ?

 

[pknopp]

Congress needs to change the law to get rid of the maximum employment mandate. Economists use a flawed model that relates inflation and employment so the Fed's decisions are flawed. The so-called Phillips Curve has been known to be wrong for decades.

They sure did a lousy job on keeping prices stable.

 

[airplanemechanic]

Four more years. It's open season on the orange bag O' shit. Nothing is off the table when it comes to smearing his filthy ass.

There won't be enough of ya'll left to smear him by the time the votes are all counted.

Trump won:

1. The popular vote
2. The electoral college
3. All 6 swing states
4. The senate
5. Most likely the house
6. Flipped multiple blue states red
7. Majority of all governors are now red

You whining reminds me of my neighbors kid at 3 who yells and screams when the ice cream truck drives right by him.

 

[SassyIrishLass]

There won't be enough of ya'll left to smear him by the time the votes are all counted.

Trump won:

1. The popular vote
2. The electoral college
3. All 6 swing states
4. The senate
5. Most likely the house
6. Flipped multiple blue states red
7. Majority of all governors are now red

You whining reminds me of my neighbors kid at 3 who yells and screams when the ice cream truck drives right by him.

It wasn't a red wave, it was a shellacking, even I didn't expect this beat down

 

[airplanemechanic]

It wasn't a red wave, it was a shellacking, even I didn't expect this beat down

Honestly I didn't. I was scared Kumalot would win, but was terrified she would win and it would be REALLY close and fucking J-6 would look like a childs birthday party.

 

[WEATHER53]

Did Trump ask him to???

NO

Fake

 

[Tumblin Tumbleweed]

There won't be enough of ya'll left to smear him by the time the votes are all counted.

Trump won:

1. The popular vote
2. The electoral college
3. All 6 swing states
4. The senate
5. Most likely the house
6. Flipped multiple blue states red
7. Majority of all governors are now red

You whining reminds me of my neighbors kid at 3 who yells and screams when the ice cream truck drives right by him.

Who's whining? You won. WTF is your damage?

 

[Arlette]

‘Fed Chair Jay Powell said Thursday that he would not resign if president-elect Donald Trump asked him to. Asked whether he would step down amid chatter that Trump's advisors had suggested he do so, Powell replied, "No."

Trump himself nominated Powell as Federal Reserve chairman in 2017 in his first administration. Powell also said that he was not legally required to leave if asked to do so, and that his staff had determined that the president lacked the capacity under the law to demote, at will, himself or any other Fed governors.

Powell's term is slated to end in May 2026. Powell made the comments during his regularly scheduled remarks following the release of the Federal Open Market Committee's latest statement on interest rate policy. The committee announced a quarter-point cut, a widely expected move.

Representatives for Trump did not immediately respond to a request for comment. Powell's comments will likely be seen as a bid to maintain the Fed's longstanding independence from outside political influence, though whether such immunity actually exists in practice has sometimes been debated.’

Fed Chair says he won't resign if Trump asks him to

Trump appointed Jerome Powell in 2017, during his first term as president.

www.nbcnews.com

Trump, of course, thinks he should have ‘a say.’

Wasn't he appointed by Trump?

 

[Tumblin Tumbleweed]

View attachment 1039369

Lookit mah memes.

 

[DudleySmith]

They can be fired for 'cause'. With a majority in Congress he has a shot at firing him.

To start, Trump may have to find “cause
,” or prove Powell’s inefficiency, neglect of duty, or malfeasance in office, according to a 1930s Supreme Court ruling on criteria for removing an FTC commissioner.

“It would have to go through an executive Judiciary Committee, so they would have to appoint a special counsel before the Senate to determine whether or not the chairman, Jerome Powell, did in fact breach any of his duties in his role as chairman,” Morgan said.

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www.barrons.com

It's not impossible.

Lowering interest rates is irresponsible in a time of high deficits, just more corporate welfare and trying to create yet another bubble and head off deflation. We need to decrease borrowing, not increase it; there is a whole lot of cash out there already not being utilized for anything, just siting there.

 

[Lesh]

See libs can’t learn
Another offering up of what is not on the table in order to try and smear Trump

Do you EVER make sense?

 

[Lesh]

Congress needs to change the law to get rid of the maximum employment mandate. Economists use a flawed model that relates inflation and employment so the Fed's decisions are flawed. The so-called Phillips Curve has been known to be wrong for decades.

According to who?

 

[Rambunctious]

Why ?

Because he will mess with Trump's attempt to solve inflation...

 

[Orangecat]

Lookit mah memes.

Lookit mah butthurt.