That is a good opportunity for Trump to replace Powell with someone closer to him , but it's not as easy as you might think. The president will have the power to nominate a new Fed chairman , but the final decision will be made by the Senate. If the Senate does not approve, Trump will have to nominate a new candidate . Although Republicans control the Senate, not all Republicans support all of Trump's ideas, so there is no guarantee that things will go his way .
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Power in the US is distributed among three separate branches of government, rather than concentrated in a single person/organization. So this cannot happen, Trump has no authority to interfere with the Fed's internal decisions, let alone abolish them.
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Power in the US is distributed among three separate branches of government, rather than concentrated in a single person/organization. So this cannot happen, Trump has no authority to interfere with the Fed's internal decisions, let alone abolish them.
Exactly. To top it all off, Republicans hold a slim majority in the Senate, so they will have to negotiate with Democrats to elect the a new chairman for the FED. A Trump loyalist won't reach the favor of Democrats and "classic" (anti-Trump) Republicans. However, we've seen Trump testing his limits when defying court orders from judges (as per claims from the media). So anything's possible.
I'm not worried who gets selected as the next chairman of the FED, as long as that person puts the economy first above all else. Let's see what happens in the long run.
