Source: Cobden Centre
by Benn Steil
“Federal Reserve Chair Jay Powell, asked on Nov. 7 if he would resign at the request of President-elect Donald Trump, gave a clear and blunt response: ‘No.’ Powell further denied that the incoming president, who has criticized him harshly, had any authority to force him out. Such an effort, he said, would ‘not be permitted under the law.’ Powell, however, may not have the last word on the matter. The Fed has no clear legal standing to challenge his removal, and he would likely have to fund a fight himself. Yet even if Powell were to survive such a fight, Fed independence under a Trump White House is not ensured. There are other ways for the president to influence the conduct of monetary policy.” (11/19/24)
https://www.cobdencentre.org/2024/11/trump-can-capture-the-fed-heres-how/