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Why Trump can’t fire Powell for disagreement over monetary policy
President Donald Trump cannot fire Federal Reserve Chairman Jerome Powell and it does a disservice for him to suggest otherwise, according to a legal expert Thursday. Earlier Thursday, Trump said he didn’t want to fire Powell, even though he called Fed policy “crazy.” Can Trump fire Powell? “The answer is basically, no, while technically, yes,” said Robert Hockett, a professor of law at Cornell Law School. “There would be no such thing as Fed independence or even a shadow of Fed independence, if the Fed chairman could be fired,” he said. Similar to other independent regulatory agencies, like the ... (full story)
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Humans are naturally hardwired to avoid and detest uncertainty.