Republican Congressman: President has no power to dismiss Federal Reserve Chairman

Odaily Planet Daily News: According to the Financial Times, Republican Senator John F. Kennedy from Louisiana and a member of the Senate Banking Committee fiercely criticized President Trump's attack on Federal Reserve Chairman Powell on Sunday, stating that no president has the authority to dismiss the Fed chairman. Kennedy said on NBC, "I don't think the President, any President, has the power to dismiss the Chairman of the Federal Reserve. I believe the Federal Reserve should be independent Previously, Trump stated that he believed he had the right to fire Powell. Last Thursday, he told reporters in the Oval Office, "If I want him to step down, he will step down soon, trust me." Kennedy defended the Fed's focus on controlling inflation on Sunday, saying, "My experience with Powell has taught me that he will do what he thinks is right. He will not go down in history for allowing inflation to go wild like a March hare. He will take the actions he deems necessary