“At the heart of President Trump’s threat to fire Jerome Powell lies an unsettled legal question: When the Fed chair’s term expires without a confirmed successor, who gets to decide what happens next?,” the Wall Street Journal reports.
“This week, the administration signaled that if no successor is confirmed by May 15, Powell shouldn’t continue as chair. Treasury Secretary Scott Bessent said Tuesday that several people—not just Powell—could serve as the Federal Reserve’s interim leader, naming Vice Chair Philip Jefferson and governor Christopher Waller as alternatives.”
“On Wednesday, Trump went further, saying ‘I’ll have to fire him’ if Powell didn’t step aside.”
“But last month, Powell pre-emptively staked out his position, announcing he would continue leading the central bank as ‘chair pro tempore’ if no successor is confirmed on time.”
Victoria Guida: How Trump is sabotaging himself on the Federal Reserve.
?Political Trivia
Eight moments in political history. Put them on a timeline.
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Nine Justices. One case. How did they rule?
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Do you have your finger on the pulse of America?
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Four questions a day.
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