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elleng

(131,832 posts)

4. How selected:

Sat Dec 22, 2018, 01:29 AM

Dec 2018

'The seven members of the Board of Governors of the Federal Reserve System are nominated by the President and confirmed by the Senate. A full term is fourteen years. One term begins every two years, on February 1 of even-numbered years. A member who serves a full term may not be reappointed.

The nominees for chair and vice-chair may be chosen by the President from among the sitting Governors for four-year terms; these appointments are also subject to Senate confirmation. ... By law, the chair reports twice a year to Congress on the Federal Reserve's monetary policy objectives.'

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Trump Said to Discuss Firing Fed's Powell After Latest Rate Hike [View all] Julian Englis Dec 2018 OP

I believe the fed chair can only be removed for cause. unblock Dec 2018 #1

That is true, but I am sure he can come up with a cause still_one Dec 2018 #5

He may come up with an 'excuse,' elleng Dec 2018 #6

I don't think there is anyone in his administration who would exercise the 25th amendment though still_one Dec 2018 #18

'cause he's raising interest rates... SergeStorms Dec 2018 #11

Exactly this! nt WePurrsevere Dec 2018 #28

The "cause" is doing the right thing, not doing what Trump wants D_Master81 Dec 2018 #31

If he does this, markets are going over the cliff. tinrobot Dec 2018 #2

Exactly, this is another reason the Dow has been tanking, watoos Dec 2018 #17

And who the hell would Tiny put in charge of the fed..... Ivanka? groundloop Dec 2018 #3

How selected: elleng Dec 2018 #4

In his current state, nothing DT does would surprise me pat_k Dec 2018 #14

Thank you. There probably is precedent defining 'for cause' somewhere. empedocles Dec 2018 #26

I suspect it's something like conflict of interest. elleng Dec 2018 #36

'Precedent', or at least supporting evidence could probably be found empedocles Dec 2018 #37

Right. elleng Dec 2018 #38

+1 Julian Englis Dec 2018 #42

Thanks! (nt) pat_k Dec 2018 #43

The Orange man doesn't understand that the markets are mostly reacting to........... napi21 Dec 2018 #7

Sadly, he doesn't care. elleng Dec 2018 #39

Putin gets another present under the tree, courtesy of Donnie Two Scoops. LastLiberal in PalmSprings Dec 2018 #8

Don't forget Afghanistan. RVN VET71 Dec 2018 #29

Classic Trump.... global1 Dec 2018 #9

I would guess that Trump has been ordered by Putin to fire Powell simply to add to the chaos. olddad56 Dec 2018 #10

It even doesn't have to be Putin, watoos Dec 2018 #19

DT is Flailing. "The beginning of the end" pat_k Dec 2018 #12

We can't wait for 2020. watoos Dec 2018 #20

More toddler tantruming! pazzyanne Dec 2018 #13

History is repeating itself Major Nikon Dec 2018 #15

He's desperate and wants absolute power duforsure Dec 2018 #16

I agree, he is using the wall as a distraction. watoos Dec 2018 #21

Once again he wants to blame his own guy. Markets only started tanking when Janet Yellen left wishstar Dec 2018 #22

trump can't "fire" the Fed Chair, can't wait for his temper tantrum on that now beachbum bob Dec 2018 #23

For what it's worth, he won't fire anyone Maeve Dec 2018 #24

The market should be booming. watoos Dec 2018 #25

Removal for cause has a technical meaning Loki Liesmith Dec 2018 #27

"hoping that the president's latest bout of anger will dissipate over the holidays" tanyev Dec 2018 #30

Damn it!!!! paleotn Dec 2018 #32

The Grecian Formula (slightly Green hair was orange or blonde looking) excuse turbinetree Dec 2018 #33

Me personally, I'm all for letting trump crater the economy The Liberal Lion Dec 2018 #34

Of course,no one would possibly consider that the idiot is murdering the economy all by himself. Firestorm49 Dec 2018 #35

Great Depression, here we come. I don't even have words for this. nt Hekate Dec 2018 #40

Go ahead and fire him Dump workinclasszero Dec 2018 #41

The reason for the next Great Depression workinclasszero Dec 2018 #44