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  • US central bank boss says Trump can't fire him

    From bbc.com

    The head of the US central bank has hit back at speculation that his post might be in jeopardy as Donald Trump prepares to assume power in Washington. Federal Reserve chairman Jerome Powell said he would not step down if Trump asked and that it is "not permitted under law" for the White House to force him out. Mr Powell was responding to questions from reporters at a press conference after the bank announced a cut to borrowing costs, lowering the Fed's key lending rate to the range of 4.5%-4.75%. Forecasters have been expecting borrowing costs to fall further in the months ahead but warned that Trump's plans for ... (full story)

He didn't say Trump cannot fire him. He was asked if he would resign if Trump asked him to and he said "no". If Trump wanted to fire him he would. There are many ways to achieve that for someone who holds the presidency, senate, and most likely the house.
https://www.myfxbook.com/members/mitiblotch/mt5-10567385/9464692
this new age of inflammatory rhetoric is exhausting. journalism by its mandate is suppose to be balanced and measured, factual and true. but it never is, sad commentary on an entire industry. CNN and Ted Turner single handedly ruined news by making it a for profit business and deregulation by the US set the stage for the expansion of highly biased information delivery.
Can do like Democrats and get the DOJ to find something he's done wrong
He was appointed by Trump about 5 years ago. We need to remember that. May be Powell also need to be reminded, otherwise, that should have been his 1st line of response.

Why would he now fire him now
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Quoting Mitiblotch
He didn't say Trump cannot fire him. He was asked if he would resign if Trump asked him to and he said "no". If Trump wanted to fire him he would. There are many ways to achieve that for someone who holds the presidency, senate, and most likely the house.
Powell very clearly used the phrase "Not permitted under the law" when asked if he believed the President had the power fire or demote him.
Maybe your attention span is not high enough to get through the whole of the FOMC interview or maybe you just didnt even bother to watch it before commenting.
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  • Posted: Nov 7, 2024 10:15pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 5  /  Views: 6,486

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