Trump asking advisers if he can legally fire Fed chief

[libertybele]

If he can't fire the Fed chief, can he ask for an audit of the Fed??

Trump asking advisers if he can legally fire Fed chief

President Donald Trump has begun polling advisers about whether he has the legal authority to fire Federal Reserve Chairman Jerome Powell, according to two people familiar with the matter, who described the President as newly furious at the Fed chief as markets tumble.
Earlier this year, Trump's advisers told the President that it was doubtful he would have the law behind him if he fired Powell. But Trump has renewed the issue after the Fed again raised its benchmark interest rate this week.
So far, the White House hasn't come to a final legal determination on Trump's authority to fire his Fed chairman, whom he nominated a year ago. The law states the President can fire a Fed governor for cause, but it hasn't been tested on the firing of a chairman.

Top West Wing economic advisers have warned Trump that firing Powell would only exacerbate the problem the President is ostensibly trying to solve: nose-diving markets. The unprecedented move would likely cause more turmoil.

Bloomberg first reported Trump's latest frustrations with Powell.
"I'd be very careful doing that," Sen. Richard Shelby of Alabama said Saturday on Capitol Hill.
A senior member of the Senate banking committee, Shelby said that the Federal Reserve is "set up to be independent of the President" and "should remain independent of politics.......

https://www.cnn.com/2018/12/22/politics/trump-jerome-powell-fire-interest-rate-hike/index.html

[Frank Cannon]

according to two people familiar with the matter

Right. Who is that CNN? Wolf Blitzer and Acosta?

BTW abolish the Fed. It would solve all sort of problems.

[Formerly Once-Ler]

Leadership. 

[corbe]

I don't like you Mr. Trump but I'd damn sure Audit your FED, call me, but only if your serious.

[RoosGirl]

Does he think the next person HE nominates is going to be better than the last person HE nominated?

[corbe]

   Maybe he can commute Madoffs sentence and appoint him, at this point what difference does it make.

[jafo2010]

Trump appointed a Bushie to head the FED.  Just how stupid is he?  Not only is he a Bushie, but this guy was part of the Carlyle Group, another reason to avoid this guy like the plague.

Whoever Trump is listening to, I sure wish he would stop.

Rule #1 -  NO FORMER PEOPLE INVOLVED WITH THE BUSHES.  NONE!  Can't be more clear than that.  Continue to appoint former Bush people, just plan to be out of office and lose the GOP nomination in 2020.  Plan on it!

Rule #2 - NEVER DEVIATE FROM RULE #1!

[kevindavis007]

Does he think the next person HE nominates is going to be better than the last person HE nominated?

Also, why should I work for Trump if he keeps on doing this s**t.

[austingirl]

I don't like you Mr. Trump but I'd damn sure Audit your FED, call me, but only if your serious.

 

[Oceander]

Mulvaney now says Trumpy Bear realizes he can’t fire the Fed Chairman.

[libertybele]

I don't like you Mr. Trump but I'd damn sure Audit your FED, call me, but only if your serious.

Indeed.  It may be time for Pres. Trump to give Dr. Ron Paul a call and have lunch with Rand.

[jafo2010]

If Trump made an effort to end the FED, they would not allow him to live long enough to sign any legislation to end it.  They would kill him like they killed every president that tried to change the banking system in America, the one thing all five presidents who were assassinated in the USA had in common, other than all being caucasian males.

[Right_in_Virginia]

This thread is based on old fake news.  This rumor was shut down quickly.  Here's the update to the false reports:

Trump knows he can't fire Fed chair Jerome Powell, Mulvaney says
NBC,  Dec 23, 2018

White House budget chief and incoming acting chief of staff Mick Mulvaney said Sunday that President Donald Trump knows he can't fire Federal Reserve Chairman Jerome Powell, who the president has excoriated in recent months for raising interest rates.

Speaking with ABC's "This Week," Mulvaney said Trump recognizes he "does not have the ability" to fire Powell. Presidents do not have the power to fire Federal Reserve chairs, though they do appoint individuals to run the independent agency for four-year terms. The only mechanism for removing a Federal Reserve chairman prior to the end of their term is if Congress impeaches them for cause.


https://www.nbcnews.com/politics/donald-trump/trump-knows-he-can-t-fire-fed-chair-jerome-powell-n951426

@jafo2010

[Right_in_Virginia]

Mulvaney now says Trumpy Bear realizes he can’t fire the Fed Chairman.

Kudos to Mulvaney for shutting down this fake news quickly.

[edpc]

Kudos to Mulvaney for shutting down this fake news quickly.

The news was he was inquiring about whether he could. Now, he realizes he can’t. Do you think that magically manifested or someone told him why he couldn’t? So, how is this, in any way, fake news?

[Oceander]

Kudos to Mulvaney for shutting down this fake news quickly.

It wasn’t fake news if he asked whether he could do it or not.  Try to put the orange koolaid down from time to time.

[Victoria33]

Does he think the next person HE nominates is going to be better than the last person HE nominated?

@RoosGirl

I don't understand your problem as Trump has said over and over he only gets the "best people".  There must be some "best" people and some "better than best" people and there are "better and better than best" people.  That is why he keeps firing the "best" people, to get "better than best"and and "better and better best people".   

[verga]

If Trump made an effort to end the FED, they would not allow him to live long enough to sign any legislation to end it.  They would kill him like they killed every president that tried to change the banking system in America, the one thing all five presidents who were assassinated in the USA had in common, other than all being caucasian males.

For the record only four Presidents have been assassinated, and all four had left-leaning ties. Since we have only had one President that wasn't a Caucasian male.....