Press Releases
Carter Introduces Bill Giving President Power to Fire Fed Chair
Washington,
August 15, 2025
WASHINGTON, D.C. – Rep. Earl L. “Buddy” Carter (R-GA) today introduced the Timely Oversight of Operations, Liquidity, Accountability, Targeting, and Effectiveness (TOO LATE) Act, a bill granting the president explicit power to fire the Chair of the Federal Reserve. Current law is ambiguous, stipulating that the president may fire the Chair of the Federal Reserve “for cause,” which some legal scholars have interpreted to mean malfeasance, neglect of duty, or inefficiency. This bill will explicitly broaden the scope of reasons a president may fire the Chair of the Federal Reserve.
“Federal Reserve Chair Jerome Powell needs to go, and the President should have the power to make that decision without question. Powell has been too late to cut rates, and it is directly harming the American people. With this bill, we will restore proper oversight of the Federal Reserve and give the president another tool in his tool chest to strengthen and grow the economy," said Rep. Carter.
Read full bill text here.
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