The reference to termination for cause appeared in the original 1913 Federal Reserve Act. But it was taken out in 1933 and then added back in 1935 after a series of lengthy Senate hearings on Fed ...
WASHINGTON, DC - JULY 24: U.S. President Donald Trump and Federal Reserve Chair Jerome Powell tour the Federal Reserve’s $2.5 billion headquarters renovation project. (Photo by Chip Somodevilla/Getty ...
According to the terms of the Federal Reserve Act, the president may only remove a member of the Fed's Board of Governors "for cause." In this case, Trump claims that he has sufficient cause to fire ...