While the firing may be challenged in courts, even going up to the Supreme Court, Trump’s firing of Cook puts the central bank of the world’s largest economy in uncharted waters.
For example, it’s unknown whether Cook would have to leave the Fed’s board immediately, and if so, will Trump have the opportunity to nominate someone else to fill her seat.
Per Rachael Maddow, the President does not have the legal authority to fire Cook, but of course we’ll have to see who does what.
Sounds like official business to me. President can take a dump on the constitution as long as it’s official business, right? If SCOTUS decides he doesn’t have authority to do this, then I don’t see how it doesn’t directly contradict their earlier ruling.
This isn’t relevant to that. This is basically just an old man yelling at clouds. No one actually has to listen to him in this case.
It’s like a customer telling you that you’re fired.
Huh…
This might just be an exceedingly rare instance in which those corrupt and compromised conservative fuckheads on the Supreme Court won’t just rubber-stamp whatever Trump wants, since pissing off the Fed, and the entire banking/investing industry whose interests it represents, could be even worse for them than pissing off the Toddler-in-chief.
Well, there goes the independence of the Fed, and our financial well-being with it.
Next stop, serfdom.