President cannot remove a Fed board member under the law, Powell says
ReutersFeb 11, 2025 4:04 PM
Feb 11 (Reuters) - The U.S. president has no legal authority to remove a member of the Board of Governors of the Federal Reserve System, Fed Chair Jerome Powell said on Tuesday.
Powell's statement came in response to a question from a Democratic senator during his testimony before the Senate Banking Committee.
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