US Republican congressman: President has no power to fire Fed chairman

Odaily News According to the Financial Times, John Kennedy, a Republican senator from Louisiana and a member of the Senate Banking Committee, slammed US President Trump's attack on Federal Reserve Chairman Powell on Sunday, saying that no president has the power to fire the Fed chairman. Kennedy said on NBC, "I don't think the president, any president, has the power to remove the Fed chairman. I think the Fed should be independent."
Trump has said he believes he has the power to fire Powell, telling reporters in the Oval Office last Thursday: "If I wanted him out, he would be out very quickly, believe me." Kennedy defended the Fed's focus on controlling inflation on Sunday, saying: "My experience with Powell tells me that he will do what he thinks is right, and he will not go down in history as allowing inflation to go crazy like a March hare, and he will take the actions he thinks must be taken." (Jin Shi)