50 sats \ 3 replies \ @Undisciplined 8 Nov \ on: MONEY CLASS OF THE DAY: Fed Independence and Can Trump Really Fire Powell? econ
I recall reading a quote from a Fed Chairman along the lines of "We have to do what the president wants, in order to maintain our independence."
Now I'm having trouble finding it. Was that just apocryphal?
Don't know off the top of my head but doesn't sound implausible.
reply
I thought it was Arthur Burns, but it didn't come up quickly in my searches.
reply
Not a bad guess.
He's usually considered a weak chair, letting inflation run away before Volcker came in and crushed it basically
reply