politics @lemmy.worldEnglish • 11 hours ago

Jay Powell says Donald Trump couldn't fire him even if he tried

finance.yahoo.com

150

Jay Powell says Donald Trump couldn't fire him even if he tried

finance.yahoo.com

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politics @lemmy.worldEnglish • 11 hours ago

President-elect Donald Trump has sent mixed signals for years on whether he would fire or demote Jerome Powell. But Powell made it clear Thursday that he won’t be going anywhere even if Trump tried.

Summary

Federal Reserve Chair Jerome Powell asserts that he cannot be fired by President-elect Donald Trump, citing legal protections under the Federal Reserve Act.

Trump has previously expressed his desire to remove Powell, but legal experts argue that a policy disagreement would not constitute “for cause” removal.

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-1•11 hours ago
So you’re saying this one guy is being useful for somehow saying his job is safe?

This is the worst take…
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  1•5 hours ago
  I mean, he’s done a good enough job and I’d take him over literally anyone trump wants to appoint.

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