After Federal Reserve Chair Jerome Powell acknowledged on Wednesday that there might be an economic downturn due to Trump’s tariffs, the president posted on social media suggesting the chair should be fired — but does he have the authority to do that?

1. Can the President Fire the Fed Chair?

Technically, the Federal Reserve Chair (currently Jerome Powell) can only be removed for cause before the end of their four-year term. The law that governs the Fed's structure — the Federal Reserve Act — does not explicitly give the President the authority to dismiss the Chair at will.