The Supreme Court recently suggested that the president cannot fire the head of the country’s central banking system to protect independence.
Do not hurry to feed to change rate
Federal Reserve Chairman Jerome Powell said it remains appropriate to hold off monetary policy given uncertainty about the economic outlook.
Bloomberg
The American Central Bank System Head encouraged Princeton University’s 2025 graduates to do “anything necessary to maintain and strengthen democracy” in their May 25 opening speech at Ivy League University.
Federal Reserve Chairman Jerome Powell also spoke about the importance of public services and how the country’s “great universities are the world’s vy hopes and important national assets” in its clear responsibilities of President Donald Trump’s war on elite colleges and universities.
But Powell is probably protected from Trump’s rage – he often receives it.
The Supreme Court in the May 22nd ruling appeared to be protected from Trump by Powell when the president slammed the firing of two independent members of the Labor Commission. Justice pointed out that the Federal Reserve is “individually structured” and is part of a “clear historical tradition” of independence. The Fed’s carve out suggests central bank leaders will enjoy stronger protections for Trump than other quasi-government groups.
The Fed chair, who graduated from Princeton with a degree in political science rather than economics in 1975, joked that he chose the wrong major at New Jersey schools.
“I was blasting one academic suggestion from my parents. This was to major in economics. “I’ll admit that after 13 years with the Fed, I was wrong about it!”
