Faced with a solid economy and mounting inflation concerns, the U.S. central bank has said it will “move cautiously” on cutting interest rates.

The president can't remove Powell before his term ends in 2026 simply because of policy disagreements or frustration over interest rate decisions. According to Earle, members of the Federal Reserve Board can be removed only "for cause," that is, proven misconduct, malfeasance or inability to do the job due to illness.