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Federal Reserve chair says he will not resign if Trump asks him to

JANFU

JANFU

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https://www.washingtonpost.com/busi...ir-says-he-will-not-resign-if-trump-asks-him/

Trump has repeatedly blamed Powell for the market decline and the dimming outlook for the U.S. economy this year and next.

“No. I have no news for you on that,” Powell said at the American Economic Association annual meeting when he was asked whether Trump had tried to remove him as Fed chief. Trump nominated Powell for the position in late 2017.

When asked if he would resign, Powell said simply, and quickly, “No.” The Fed chair also said that no meeting has been scheduled so far with Trump, although he indicated he would be willing to meet with the president. “I can’t think of any Fed chairs who didn’t eventually meet with the president,”
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Powell stated he would not resign if asked.
Trump would have to fire him
Now firing him would be stupid, so when will Trump do it?
 
Fire him. Trump don't like it when people won't do as he asks. I'm sure there's another Goldman-Sachs guy out there we can put as chair of the Fed.
 
JANFU said:
https://www.washingtonpost.com/busi...ir-says-he-will-not-resign-if-trump-asks-him/


Powell stated he would not resign if asked.
Trump would have to fire him
Now firing him would be stupid, so when will Trump do it?
Click to expand...

Never because Trump is sure that he can negotiate some super duper, the best in world history, trade deals, let him tell you, that will make the world's financial markets boom, and America's markets soar even more fantastically than that, creating an economic miracle not witnessed since the invention of fire, the wheel or choo-choo trains. Of course, to do that we must have the Great Wall Of Trump or Mexicans, MS-13 and terrorists will ruin the nation from within.
 
Ikari said:
Fire him. Trump don't like it when people won't do as he asks. I'm sure there's another Goldman-Sachs guy out there we can put as chair of the Fed.
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It doesn’t seem Trump could unilaterally do it, but it could become a matter for the courts and if the courts side with Trump and the Fed Chair can be deposed at any moment because the President doesn’t like him, the economic consequences are incalculable, the Fed is meant to act independently and if they no longer can, they may not be able to take those long term positions that help to ensure relative market stability, keep inflation low and take the lender of last resort actions that they must when the **** hits the fan.
 
Jetboogieman said:
It doesn’t seem Trump could unilaterally do it, but it could become a matter for the courts and if the courts side with Trump and the Fed Chair can be deposed at any moment because the President doesn’t like him, the economic consequences are incalculable, the Fed is meant to act independently and if they no longer can, they may not be able to take those long term positions that help to ensure relative market stability, keep inflation low and take the lender of last resort actions that they must when the **** hits the fan.
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I don't believe the Fed should act completely independently. I believe the Fed should be owned, in full, by Congress since Congress was the body granted the authority to print and regulate the value of our currency. But I suppose that's another topic for another time.
 
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