Part 5/11:
The distinction becomes even murkier concerning the Fed chair. While Fed governors are protected from removal without cause, the chair’s role is more of a designation that the president can influence. If Trump were to oust Powell as chair, Powell could potentially remain on the Federal Reserve Board or the Federal Open Market Committee (FOMC), depending on how the legal and institutional processes unfold. Experts widely agree that these issues constitute a significant legal and constitutional gray zone, and any presidential attempt to remove Powell could ignite a historic confrontation over Fed independence.