Originally Posted by raabd
No, the president elects the fed chair and obama chose him for another term. Yea the Fed is independent but they were created thru the democratic process (federal reseve act of 1917).
It was in 1913 and it was through a coup.
And like I said, the president "appoints" him, but he's already preselected. The president does it ceremoniously, not as a matter of individual policy.