Explainer: Can Trump fire Federal Reserve chair Jerome Powell? - theguardian.com
Can Trump legally fire the Fed chair?
The clearest answer: right now, probably not, but things could change.
On Wednesday, Powell affirmed that the Fed’s independence “is a matter of law”. “We’re not removable except for cause,” Powell said. “Fed independence has pretty broad support across both political parties and on both sides of the hill.” But he also mentioned a case going through the supreme court that may alter the power the president has over federal agencies, going off Trump firing an official with the National Labor Relations Board.
It’s unclear how the court will rule, but it allowed the firings to stand, overruling a lower court. “I don’t think that that decision will apply to the Fed, but I don’t know,” Powell said. “It’s a situation that we’re monitoring carefully.” The Fed’s next board meeting is on 6 and 7 May. Trump is likely trying to pressure the Fed ahead of it, but it is unlikely that officials will budge.
