GOP Rep. French Hill says he does not believe Trump can fire Fed chair Jerome Powell

GOP Rep. French Hill says he does not believe Trump can fire Fed chair Jerome Powell

Rep. French Hill, chairman of the House Financial Services Committee, told “Face the Nation with Margaret Brennan” that he doesn’t believe President Trump can fire Fed chair Jerome Powell as the White House looks into his authority to do so. Mr. Trump has repeatedly expressed frustration with Powell refusing to lower interest rates, although board members of independent federal agencies like the Federal Reserve can only be forced out before their terms expire “for cause.”

Truth Analysis

Factual Accuracy
4/5
Bias Level
4/5
Analysis Summary:

The article is mostly accurate. The core claim that Rep. French Hill doesn't believe Trump can fire Jerome Powell is plausible given the context of presidential frustration with the Fed and the Fed's operational independence. The article presents information in a relatively neutral manner, with minimal discernible bias.

Detailed Analysis:
  • Claim:** Rep. French Hill, chairman of the House Financial Services Committee, told "Face the Nation with Margaret Brennan" that he doesn't believe President Trump can fire Fed chair Jerome Powell.
    • Verification Source #3: Indicates Rep. French Hill is involved with banking committees, supporting his expertise on the matter.
    • Verification Source #2 and #4: Show Trump's past frustration with Powell and the Fed's interest rate policies.
  • Fail to cover:* The specific statement by Rep. Hill on "Face the Nation."
  • Internal Knowledge:* It is generally understood that the Fed is designed to be independent from direct presidential control.
  • Claim:** Mr. Trump has repeatedly expressed frustration with Powell refusing to lower interest rates.
    • Verification Source #2: Supports this claim, stating "Powell tells Congress Fed can 'wait' on rate cuts as Trump pressure intensifies."
    • Verification Source #4: Supports this claim, stating "Trump wrote. 'I hope Congress really works...'" implying his frustration.
  • Claim:** Board members of independent federal agencies like the Federal Reserve can only be forced out before their terms expire "for cause."
  • Fail to cover:* The provided sources do not explicitly state the "for cause" requirement for firing Fed board members.
  • Internal Knowledge:* This is a generally accepted understanding of the legal framework surrounding the Federal Reserve's independence.
Supporting Evidence/Contradictions:
  • Verification Source #2 and #4: Support the claim that Trump has expressed frustration with Powell's interest rate policies.
  • Verification Source #3: Supports the claim that Rep. French Hill is involved with banking committees.
  • The provided sources do not directly confirm Rep. Hill's statement on "Face the Nation" or the "for cause" requirement for firing Fed board members. This relies on the assumption that CBS News accurately reported the statement and on general knowledge of the Fed's structure.