Fed Chair Rejects Trump Firing

This is a news story, published by ABC News, that relates primarily to Powell news.

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Federal Reserve Act

ABC News

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Fed chair says Trump can't remove him. Could Trump still influence interest rates?

Summary

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78% Informative

Federal law allows the president to remove a Federal Reserve governor, including the Fed chair, “for cause” Experts cast doubt on the prospect of Trump meaningfully influencing the Fed ’s interest rate decisions, at least in the short term.

The attempted removal of Powell would likely get tied up in the courts for months , if not years, experts say.

The status of Fed independence holds important stakes for everyday people, Claudia Sahm said.

A central bank that lacks independence is more likely to throw its dual mandate of stable inflation and maximum employment out of whack, she said.

In 2026 , Powell ’s term will expire and Trump will appoint a replacement, who will then require Senate confirmation.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity