Trump’s Threats Hit Legal Wall: Why He Can’t Fire Fed Chair Jerome Powell

After the Federal Reserve left its key interest rate unchanged on July 30, former President Donald Trump lashed out at Chair Jerome Powell on social media, calling him “too late” and “too political”.

Trump has repeatedly threatened to fire Powell for not cutting rates, yet legal experts note that the president cannot remove the Fed chair without cause because the central bank’s independence is protected by law.

Powell himself has said that board members are only removable “for cause” and that bipartisan support makes any change unlikely.