Reply to Trump's next target: Jerome Powell, chair of the Federal Reserve

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[quote=Anonymous]Yet another example of Trump trying to flex his power. The Federal Reserve is designed to be independent from political pressure, and the Chair serves a four-year term, which can be renewed. While the president appoints the Chair (with Senate confirmation), the president cannot unilaterally remove the Chair simply for policy disagreements. No other president has ever so publicly tried to remove a Fed chair. This is another red line Trump is crossing.

President Donald Trump has called for the "termination" of Federal Reserve Chairman Jerome Powell in a dispute over interest rates, cutting across the political independence of the U.S. central bank. Trump thinks the Federal Reserve should cut interest rates more quickly than it is to help fuel economic growth, but rate-setters are juggling the impacts of his tariffs, which threaten to push inflation higher, a situation that cutting rates would worsen.

The Federal Reserve's decision-making is supposed to be free from political interference so it can make calls it believes are right for the country and the economy rather than in the interests of presidents or lawmakers.

Trump Demands 'Termination' of Fed's Jerome Powell
https://www.newsweek.com/trump-demands-termination-fed-jerome-powell-rates-2060933[/quote]

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