White House Explored Legality of Demoting Powell

The transcript discusses the potential for a President to remove a Federal Reserve Chair, focusing on the legal and market implications. It highlights the importance of an independent central bank for economic stability and the potential market reaction to such unprecedented actions. The role of the Fed Chair and the decision-making process within the Federal Reserve are examined, along with the political pressures that may influence rate decisions. The complexity of the legal framework governing the appointment and removal of Fed officials is also addressed.

What changes were made by Congress regarding the confirmation of the chairman and vice chairman of the Fed?

Discuss the potential consequences if the President were to demote the current Fed chairman.