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

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ODAILY
04-21
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Planet Daily News: According to the Financial Times, John Kennedy, a Republican senator from Louisiana and a member of the Senate Banking Committee, strongly criticized President Trump's attacks on Federal Reserve Chairman Powell on Sunday, stating that no president has the right to dismiss the Fed chairman. Kennedy told NBC, "I do not believe the president, any president, has the right to remove the Federal Reserve chairman, and I believe the Fed should be independent." Previously, Trump said he believed he had the right to fire Powell, telling reporters in the Oval Office last Thursday: "If I want him to go, he will go quickly, believe me." On Sunday, Kennedy defended the Fed's focus on controlling inflation, saying: "My experience with Powell tells me he will do what he believes is right, and he will not go down in history for allowing inflation to run wild like a March hare. He will take the actions he believes are necessary." (Jinshi)

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