For starters, the Federal Reserve isn’t like other government agencies. It is supposed to operate separate from the White House, Congress and broader Washington politics, so officials can set policy with the long-term health of the economy in mind. The Fed chair isn’t part of the president’s Cabinet, and officials aren’t supposed to engage in politics.
Plus, the president doesn’t have the same latitude to fire Fed officials the way he can oust other people in his administration. The president can only fire Fed officials for “cause,” like malfeasance or some other dereliction of duty. When the Supreme Court let Trump fire independent regulators earlier this year, it said its reasoning didn’t apply to the Fed because of the bank’s unique structure and long-standing historical traditions.
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