General Discussion

Stinky The Clown

(67,792 posts) Sat Dec 22, 2018, 01:07 AM Dec 2018

Holy fuck. The Fed Chair is next on the block

Live on Brian Williams' show.

Powell is next. Too many rate hikes.

What the fuck will it take to get rid of this FUCKING IDIOT???

Edit to add link:

https://www.bloomberg.com/news/articles/2018-12-22/trump-said-to-discuss-firing-fed-s-powell-after-latest-rate-hike

11 replies

= new reply since forum marked as read

Highlight:

Holy fuck. The Fed Chair is next on the block (Original Post) Stinky The Clown Dec 2018 OP

Ridiculous...how can you run any organization like this? HipChick Dec 2018 #1

I missed that segment. elleng Dec 2018 #2

It was his closing story which actually ran just after midnight Stinky The Clown Dec 2018 #3

Here's a link Stinky The Clown Dec 2018 #4

Thanks. elleng Dec 2018 #5

Powell's term is fixed, he can only be fired "for cause" tritsofme Dec 2018 #6

Yeah, the whole point is that the Fed... Adrahil Dec 2018 #7

Then why in the hell did they write this in one of the banners below the main title? ProudLib72 Dec 2018 #10

The Federal Reserve is a federally chartered private bank. roamer65 Dec 2018 #8

ok...how many dictatorial grabs has he done this week? Grasswire2 Dec 2018 #9

trump can't fire a Fed Chair, beachbum bob Dec 2018 #11

HipChick

(25,485 posts)

1. Ridiculous...how can you run any organization like this?

Reply to Stinky The Clown (Original post)

Sat Dec 22, 2018, 01:12 AM

Dec 2018

elleng

(130,865 posts)

2. I missed that segment.

Reply to Stinky The Clown (Original post)

Sat Dec 22, 2018, 01:14 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.'

Stinky The Clown

(67,792 posts)

3. It was his closing story which actually ran just after midnight

Reply to elleng (Reply #2)

Sat Dec 22, 2018, 01:25 AM

Dec 2018

Stinky The Clown

(67,792 posts)

4. Here's a link

Reply to elleng (Reply #2)

Sat Dec 22, 2018, 01:27 AM

Dec 2018

https://www.bloomberg.com/news/articles/2018-12-22/trump-said-to-discuss-firing-fed-s-powell-after-latest-rate-hike

elleng

(130,865 posts)

5. Thanks.

Reply to Stinky The Clown (Reply #4)

Sat Dec 22, 2018, 01:28 AM

Dec 2018

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.

tritsofme

(17,376 posts)

6. Powell's term is fixed, he can only be fired "for cause"

Reply to Stinky The Clown (Original post)

Sat Dec 22, 2018, 01:33 AM

Dec 2018

Policy disagreements would not be a valid reason to fire him. If Trump attempted to do it, it would roil the financial markets further, but Powell would be back on the job within days.

Adrahil

(13,340 posts)

7. Yeah, the whole point is that the Fed...

Reply to tritsofme (Reply #6)

Sat Dec 22, 2018, 01:36 AM

Dec 2018

... is supposed to be independent of political influence. The Fed has issues, for sure, but we do not want the Fed answering to the political whims of Trump.

ProudLib72

(17,984 posts)

10. Then why in the hell did they write this in one of the banners below the main title?

Reply to tritsofme (Reply #6)

Sat Dec 22, 2018, 02:29 AM

Dec 2018

President’s legal authority to remove Powell is unclear

What are they playing at? And, yes, I'm in complete agreement with you. I just don't understand why a so called respectable publication would put that at the top of their article.