Biden doesn't control the fed. It's an independent entity.
You’re right. I wrote “through the Fed” meaning indirectly. POTUS appoints most of the voting officials and can replace the chair, but there’s no direct control of interest rates.
Can he replace the Fed chair arbitrarily though?
That’s a good question. I just looked it up. It’s possible, but it’s never been done before. So it’s not a realistic option.
Biden doesn't control the fed. It's an independent entity.
You’re right. I wrote “through the Fed” meaning indirectly. POTUS appoints most of the voting officials and can replace the chair, but there’s no direct control of interest rates.
Can he replace the Fed chair arbitrarily though?
That’s a good question. I just looked it up. It’s possible, but it’s never been done before. So it’s not a realistic option.