President-elect Donald Trump has sent mixed signals for years on whether he would fire or demote Jerome Powell. But Powell made it clear Thursday that he won’t be going anywhere even if Trump tried.

Summary

Federal Reserve Chair Jerome Powell asserts that he cannot be fired by President-elect Donald Trump, citing legal protections under the Federal Reserve Act.

Trump has previously expressed his desire to remove Powell, but legal experts argue that a policy disagreement would not constitute “for cause” removal.