Quote:
Originally Posted by pknopp
Being honest is understanding a Fed Chairman could address it.
They don't have the ability.
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Bwahahahhaa. Really? You believe that?
They can't be removed from the chairmanship for their policy opinions. Thats true.....but...
#1 assuming anyone willing to challenge things COULD get past the senate confirmation hearings....if things went south for them this would be the headline in the next weeks paper
"The banking act of XXXX Passed today modifying the banking act of 1935 making the chairman of the federal reserve a honorary position that can only vote in tie breaking decisions of the newly appointed board"
For an example of this-take a look at whats occurred with the Consumer financial protection Bureau, until they finally agreed on someone many were trying to make it a board ran group-which would have allowed them to easily stuff the deck. As it is....what has the CFP done lately?
More importantly.....what EXACTLY do you believe the federal reserves chairmans powers are? Mostly he or she guides committees.....of people chosen by the banks. The chairman of the fed is the public face. Not the primary decision maker. Think about that for a second.