Can Obama or McCain appoint a new Fed Reserve Chairman?

Question

Can the new president in 2009, either Obama or McCain fire Bernanke and appoint their own chairman for the Federal Reserve, or do they have to wait for Bernanke's 4-year term to end before they select their own guy? I don't think it's ever been done before. But basically what I am asking is can a president fire the chairman before his term is up?

Answer 1

They can do that once Bernake's term ends in 2010.  They serve 4 year terms, for no more than 16 years.  I think it would be highly unusual for Bernake to be asked to resign.

Answer 2

alan greenspan fooled everybody

for so long, this new guy is making

people uneasy. good thing to think

about. hire another wizard of oz

like greenspan. what a joke, that

fed operation.

Answer 3

Yes,

A new president can always ask the current Fed Chairmen to resign.

Even though his term is not over with yet.

It is doubtful that would happen,

Since he was approved by the Senate.