Janet Yellen: ‘Chair Powell Is Completely Committed to the Fed’s Independence’

EXCERPT:

YELLEN: "Well, I disagree with that strongly. I think Chair Powell is completely committed to the Fed’s independence. I don’t believe that the president actually has the ability to fire Chair Powell except as the law specifies, for cause. And I think that he should fill out his term and stay on until his term expires in May."

SORKIN: "What do you think the cause means, by the way?"

YELLEN: "Some gross mismanagement of monetary policy or the Fed or some corruption. A serious breach of his responsibilities as Fed chair, which I don’t believe there is any such basis."