Trump 'now realizes' he can't fire Fed chair amid market meltdown

Although the president appoints Fed governors, the Fed is an independent agency and the governors can be fired only "for cause." It's unclear if Trump could remove Powell as chairman while he remains a governor. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Daily Briefing YOUR MORNING NEWS ROUNDUP   Monday, December 24 Trump 'now realizes' he can't fire Fed chair amid market meltdown Although the president appoints Fed governors, the Fed is an independent agency and the governors can be fired only "for cause." It's unclear if Trump could remove Powell as chairman while he remains a governor. Try ad-free, for free: Get a 14-day free trial of the storytelling you love on the USA TODAY app. 5 things you need to know Monday Announcer rips player for wearing retired number Fed shutdown could continue into January Winners, losers: Things break Pats' way in Week 16 Trump: Mattis is out as Defense secretary on Jan. 1 Horse, petrified and harnessed, found in Italy Parkland survivor David Hogg will go to Harvard Woman disguised as Rudolph robs store: Police Corker criticizes shutdown, Trump fires back STORY FROM TRACFONE What you need to know about budget travel – as told by... Start your day with the 5 Things podcast: Five news stories. Less than five minutes. Free to subscribe. MORE FROM USA TODAY 10 great movies you missed are streaming now Packers making the right call with Aaron Rodgers Video shows the haunting moment tsunami sweeps away band Surprise! HGTV's Christina El Moussa is married 49ers' Sherman ejected after brawl with Bears Most Popular Videos & Galleries PHOTO GALLERY Deadly tsunami sweeps Indonesia coast VIDEO Deadly tsunami sweeps Indonesia coast without warning VIDEO Dad gives daughter white Christmas in the desert VIDEO Kids catch Elf on Shelf leaving house   FOLLOW US Problem viewing email? View in browser Unsubscribe • Manage Newsletters • Feedback • Privacy Policy/Your California Privacy Rights • Ad Choices • Terms of Service © 2018 USA TODAY, a division of Gannett Satellite Information Network, LLC. 7950 Jones Branch Drive, McLean, VA 22102