Jay Powell has asserted that the president lacks the authority to remove a Fed chair, emphasizing the importance of the Fed's independence for future governance.
Powell's readiness for a legal battle underscores his commitment to maintaining Fed independence, reminding that future chairs should serve without the threat of removal over policy disagreements.
The endorsement from Elon Musk to erode Fed independence highlights the influence of individual figures in shaping economic policy discussions and the complex political landscape regarding the Fed.
Senator Mike Lee’s proposed bill to abolish the Fed signals a growing political discontent and an emerging narrative questioning the central bank's role in today’s economy.
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