Mungofitch wrote, "I think it's safest to plan on the assumption that the pick doesn't matter, and that for all intents and purposes the next chair of the Fed is Mr Trump."

Once a candidate is approved and sworn in he's in like Flynn.

If he has the superhuman confidence and strength to ignore political pressure and personal insults (like Jerome Powell) the Fed Chair is NOT under the thumb of the president.

Maybe I'm naive. But Warsh is a lawyer, after all. He has the Machiavellian smarts to kowtow and act the perfect sycophant, even contradicting his own expressed beliefs...until he's in. Then he can say what he wants and can't be removed except for cause.

Federal Reserve governors serve staggered, 14-year terms. The whole point is to shield the Fed from political pressure. By the time Warsh's term is over Trump will be dead.

Wendy

Macroeconomic Trends and Risks FAQ

---

Contact Shrewd'm
Contact the developer of these message boards.