Trump should have the power to fire the Fed chair
The Chair of the Federal Reserve is arguably the most powerful economic official in the United States. He’s also the least accountable. He sets borrowing costs for households and businesses, opens lending windows to banks deemed “too big to fail,” and decides when to tame or ignite inflationary forces. Unlike the Treasury Secretary or even the President himself, he answers to no one. That may soon change. In Trump v. Wilcox, the Supreme Court is weighing whether the President should be allowed to remove the head of an independent agency.
