How Trump’s Fed Showdown Could Trigger a Global Financial Earthquake – Are You Ready?
It’s not clear anyway whether a president (who makes the appointment) has the authority to do that.
Common sense would suggest that it isn’t worth the hassle, particularly given the wobbles on the bond markets. What will matter, however, will be how the Fed is run under its by next chair.
Will it become more an arm of the executive, doing the bidding of the President – and not just this one, but the one after? In short, is the independence of the Fed under real threat?
This is a tough one. The Federal Reserve system was created in 1913 but was really an arm of government right through two world wars and the depression of the 30s.
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