True, but Trump will have the Treasury and the bully pulpit to keep Yellen in line. Congress can assert influence, too. In practice the Fed isn’t all that independent.
Greenspan offered to step aside to let W appoint his own Chairman (didn’t happen). It’s not law but Greenspan thought the president should have the Chairman he wants.
Sure it is. The Fed doesn't get any funding from Congress. What influence can they exert?
Greenspan offered to step aside to let W appoint his own Chairman (didn’t happen). It’s not law but Greenspan thought the president should have the Chairman he wants.
He didn't make the same offer to Clinton. It's not customary for the Fed Chair to resign on change of president in keeping with the independence of the Fed from the Executive. And even if she did resign immediately on day one, does Trump or any of his people know Tarullo, Powell, Fisher, or Brainard well enough to know if they would be any better?