The assumption that Federal Reserve officials can't be dismissed over a policy dispute—the "for cause" dismissal standard that provides the legal justification for so-called central bank independence in the U.S.—rests largely upon this 90-year-old legal precedent Fed governor Christopher Waller two weeks ago: “The Supreme Court could say, ‘No, you cannot fire members of these independent boards.’ Or they can say, ‘Yes, you can.' At the end of the day, if the Supreme Court makes that decision, that’s the decision we have to live with.” https://www.wsj.com/economy/central-banking/jerome-powell-federal-reserve-trump-administration-723069d1?st=LqZ4N4&reflink=desktopwebshare_permalink