A House Republican wants to give President Donald Trump an easier pathway to firing Federal Reserve Chair Jerome Powell.
Trump has previously threatened to fire Powell for not lowering interest rates and has gone so far as to draft a letter giving him the boot. Despite his frustration, the president has changed course and said he would allow Powell to finish his term that expires next May.
Still, he's already looking for a replacement.
However, the legal path to firing Powell, should Trump change his mind between now and next year, is complicated.
The Federal Reserve Act of 1913, which established the central bank, stipulates that the president can only fire the chair "for cause," meaning Powell would have to engage in serious misconduct to get the can.
Rep. Buddy Carter, R-Ga., wants to change the Federal Reserve Act to make it easier for Trump to fire Powell.
"Federal Reserve Chair Jerome Powell needs to go, and the president should have the power to make that decision without question," Carter told Fox News Digital. "He’s been too late to cut rates, and it is directly harming the American people."