https:\/\/www.yahoo.com\/news\/trump-fire-jerome-powell-213123735.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"“Legally, the answer is complicated and untested. No Fed chair has ever been removed by a President.<\/p>\n
The Federal Reserve Act allows for the dismissal of Board members, including the chair, \u201cfor cause.\u201d But that has historically been interpreted as misconduct or incapacity, not policy disagreements. \u201cThe court would typically not see disagreements over interest rates settings as \u2018for-cause,\u2019\u201d Binder says.”<\/p>\n
…<\/p>\n
“Still, the Trump Administration appears to be laying the groundwork for a potential confrontation. Treasury Secretary Scott Bessent recently told Bloomberg that he expects to begin interviewing possible replacements for Powell in the fall.”<\/p>\n
…<\/p>\n
“At the heart of that debate is a nearly century-old legal precedent: Humphrey\u2019s Executor v. United States, a 1935 Supreme Court ruling that limited the President\u2019s ability to remove leaders of independent agencies without cause. The ruling has long shielded Fed chairs from political dismissal, but could soon be tested by a conservative Supreme Court.”<\/p>\n
…<\/p>\n
“Trump has blamed Powell for failing to act aggressively enough to support economic growth, saying the Fed chair is \u201cplaying politics\u201d by keeping interest rates steady. But central bankers\u2014and many economists\u2014argue the opposite: that an independent Fed is essential to managing inflation and stewarding the economy, and that caving to political demands could damage the economy and global trust in U.S. institutions.”<\/p>\n
https:\/\/www.yahoo.com\/news\/trump-fire-jerome-powell-213123735.html<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[429,221,222,373,1034,586,587,170],"class_list":["post-17434","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-constitution","tag-donald-trump","tag-president","tag-presidential","tag-presidential-power","tag-the-fed","tag-the-federal-reserve","tag-trump"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/17434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17434"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/17434\/revisions"}],"predecessor-version":[{"id":17435,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/17434\/revisions\/17435"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}