Originally published at: Fed Nominee Warsh Advances But Powell Says He’ll Stay On, Frustrating Trump’s Bid For Control
On the same day that Trump’s nominee for Fed chair advanced after a long stalemate, the current chair made clear that Trump’s bid for control over the central bank still had a long way to go. Kevin Warsh’s nomination for Federal Reserve Chair advanced out of the Senate Banking Committee on Wednesday along party lines…
No one in his second term has stood up to Trump. I very much doubt that Warsh will be the first person in this maladministration to hold the line.
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Given that he wasn’t willing to say that Biden won the 2020 election, I think that is a pretty good bet…!
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The Chair of the Fed is just the Chair of a group of people. The Chair never had unilateral power to decide anything. I know this fact escapes the White House which seems to believe that a single person can simply order things to happen. This country and parts of the government apparatus is not a sole proprietorship. Some voters don’t seem to understand this.