Can Trump Fire Federal Reserve Chair Jerome Powell?

antiti
04-18

Trump believes he can, because the legal provisions are vague. There is no legal precedent regarding whether a president has the authority to dismiss a Fed chair before the end of their term.

Powell made it clear six years ago that if his position were challenged, he would take legal action — a stance he has reiterated in recent public statements. This is why Trump is reportedly seeking the opinion of Supreme Court justices.

However, the Supreme Court is almost certain to reject such a request. The reason is simple: the Federal Reserve must maintain independence from the federal government and the U.S. Treasury.

Treasury Secretary Bessent understands this well. He believes the move is extremely risky and offers little to no benefit. This week, he stated that the Fed's independence in monetary policy is a "treasure that must never be compromised."

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Possible Shadow Fed Chair: Will 2025 Rate Cut Ignite Market?
President Donald Trump said on Friday that a decision on the next Federal Reserve chair will be coming out soon, adding that a good Fed chair would lower interest rates. "It's coming out very soon". Trump criticizes Powell's rate policy again. ---------- How do you expect Trump's move? Will the "shadow" fed chair bring more rate cuts? Is it a good signal to fuel the market or make the market more chaotic?
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