Can President Trump actually fire Fed chief Powell?

US PRESIDENT Donald Trump has recently intensified his attacks against Federal Reserve chair Jerome Powell, criticising him for not cutting interest rates quickly enough and calling for his “termination”.

The comments came a day after the central bank chief delivered a blunt warning about the effect of Trump’s wide-ranging tariffs on the economy.

Powell said at an event in Chicago on Apr 16 that the Trump administration has brought “very fundamental policy changes”, including sweeping tariffs that are “significantly larger than anticipated”. He said such changes are unlike anything seen in modern history, putting the Fed in uncharted waters and on a path to confront a challenge it hasn’t seen in decades.