#trump ! President Trump does not have the authority to remove the Chairman of the FED!

It is said that the President of the United States does not have the authority to remove the Chairman of the Federal Reserve (FED) due to the independence of the FED and the legal protections granted to it to prevent political influence on its monetary decisions. Here I explain the key points:

* "For cause" protection: The Federal Reserve Act of 1913, which established the FED, stipulates that members of its Board of Governors, including the chairman, can only be removed "for cause." This has historically been interpreted as misconduct, inefficiency, or failure to perform duties, and not for disagreements over monetary policy.

* Legal precedent: A landmark ruling by the Supreme Court in 1935 in the case of Humphrey's Executor v. United States set an important precedent. The Court ruled that President Franklin D. Roosevelt could not remove a commissioner of the Federal Trade Commission (an independent agency) simply for political disagreements. This ruling has been the basis for protecting the independence of other federal agencies, including the FED.