Sunday, December 23, 2018

You're reading the right blog: Trump and the Fed edition

 - by New Deal democrat

CNBC (and a whole bunch of other places), yesterday:
President Trump has discussed firing Federal Reserve Chairman Jerome Powell recently, with his frustration intensifying non recent days
A new risk at the Fed: Donald Trump's power to fire Fed Governors
the Chairman and all of the other appointed governors of the Federal Reserve have exactly the protection against being fired, except "for cause," that covered FBI Director James Comey. 
So, if Trump thought Fed rate hikes were harming his re-election prospects by slowing the economy, and the Fed insisted on raising rates anyway, do I think Trump would fire the Federal Reserve Chair? Or even all of the Governors? 
In a heartbeat.
This has been another edition of "You're Reading the Right Blog."