Subject: Re: FED market reaction.
“While the President appoints the Fed Chairman, legal interpretations and historical precedent strongly suggest that the President does not have the authority to fire the Chairman simply due to policy disagreements. The Fed's independence is a key principle.

The law indicates that members of the Federal Reserve Board of Governors, including the Chairman, can only be removed "for cause." Historically, "for cause" has been interpreted as meaning misconduct or incapacity, not policy disagreements.”
Source: GeminiGoogle


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