Part 2/12:
The Federal Reserve operates independently of direct presidential control, and the president's power to fire the Fed Chair is limited. A president can only remove the Chair for cause—such as illegal activity or gross misconduct—not simply due to policy disagreements. The current speculation about firing Powell over the inflation uptick and other policy differences seems unfounded legally and could backfire politically, portraying the administration as undermining an independent institution.
Inflation and Monetary Policy