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Technology Stocks : SDL, Inc. [Nasdaq: SDLI]

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To: pat mudge who wrote (3438)	11/3/2000 7:54:28 AM
From: Wyätt Gwyön	Read Replies (1) of 3951

If the Federal Reserve Board chairman is independent, who appoints him/her? I believe the chairman has a five-year term. At the end of the term, the President nominates him/her or a new person for the next term, and the nomination is voted on by Congress (House/Senate/both? I forget). Since the Fed chairman has a longer term than the Pres, there is a chance that a given Pres wouldn't be able to nominate a chairman while in office. I'm not sure how you get rid of a Fed chairman, but I think it's got to be very difficult (involving a Congressional vote) so that the chairman is indeed independent. I don't think a President can simply fire a Fed chairman, especially one as revered as Greenspan.

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