Can a president actually fire the head of America's central bank?

I'm David Brancaccio in Los Angeles.

After the Federal Reserve Chief took a wait-and-see posture yesterday on interest rates amid market disruptions

in the increased talk of recession linked to President Trump's tariffs,

the president went after the Fed chief this morning.

On social media today,

Trump wrote Jerome Powell as, quote, always too late and wrong, and claimed that the U.S.

is getting rich on tariffs. Economistee tariffs is a tax on Americans that can increase inflation,

but they can also encourage made in America. The president went on to write that Powell should have

lowered rates like the Europeans. The president went on to write that Powell should have lowered rates like

the Europeans. The European Central Bank today did indeed lower its interest rates in the face of

what many Europeans see as America's erratic tariff policy. Trump's post concludes Powell's

termination cannot come fast enough. It's not clear if that means when Powell's term expires next year or if Trump would try to fire him, which Powell, as indicated before, would be illegal. Marketplaces, Henry Ep, joins us with what the Fed chair was saying yesterday.

Yeah, Powell was asked yesterday about the Fed's independence, and he acknowledged an ongoing court case over Trump's firing of two officials in separate independent government agencies.

The Supreme Court has allowed those firings to stand for now.

Powell said he did not think the outcome of that case would pertain to the Fed.

He also addressed the issue of Fed independence more broadly.

Again, this was before the president's post this morning.

We're never going to be influenced by any political pressure. People can say whatever they want.

That's fine. That's not a problem. But we will do what we do strictly without consideration of political or any other extraneous factors.

Now, Henry Powell also addressed the possible effects of the president's

tariff policy on the economy. Where is Powell on this now? Yeah, he made clear that the Fed is still

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