After the central bank raised interest rates in December, Trump was so irate that he asked close advisors whether he could fire Powell. The Fed is supposed to be independent from politics, and it is hard to remove a Fed governor except for "cause," which has typically been interpreted by courts as egregious wrongdoing. Top White House officials have said they do not believe the president has the authority to remove Powell, although the president himself never said he would not try to do it.

Source: Los Angeles Times February 05, 2019 04:36 UTC