Trying to be apolitical as much as possible, and asking this purely out of curiosity. Assuming Powell is forced out by Warsh, who is allegedly a puppet of the POTUS, how can he do his bidding, when other members can easily block his decisions?
Most of the current fed has been largely unbiased (except for Miran) and it's highly unlikely that a second person would be enough to influence the current policy direction and do the bidding of the admin. Why do people assume then that Warsh being elected would change the Fed's monetary policy and remove it's independence?
If the fed chair doesn't have veto powers, how is it possible for a "compromised" nominee to influence decisions?
byu/tirtha2shredder ininvesting
Posted by tirtha2shredder
2 Comments
It’s not possible
Chair terms are like 7 years governer terms are like 14 as for why warsh is compromised is trump has been pushing and pushing for the fed to act as he wants and trump only appoints loyalists so anyone trump wants it’s presumed they’ll do as there told but it will still be difficult because the Fed is also made up of like regional heads of banks governers and like I think 6-7 have to agree which direction to go so there’s really no forcing out what’s unusual is powell sticking around that’s only been done once before but he’s said it’s because he wants to stay until he’s basically knows for sure the investigation trump opened into him is 1000% percent done and final