President Donald Trump has long been known for having a contentious relationship with Federal Reserve Chairman Jerome Powell.

That fact was on display once again last week when the president suggested that he might finally fire Powell. 

Trump floats idea of firing Powell in social media post

According to Just the News, Trump discussed the prospect of removing the Federal Reserve chairman on Friday in a post to his Truth Social account.

"I fully understand that my strong criticism of him makes it more difficult for him to do what he should be doing, lowering Rates, but I’ve tried it all different ways. I’ve been nice, I’ve been neutral, and I’ve been nasty, and nice and neutral didn’t work," the president went on to complain.

"We have virtually no Inflation, our economy is doing really well, and will soon be doing, with the tremendous Tariff Income coming in, and Factories being built all over the Country, better than it has ever done before," he stressed.

"I don’t know why the Board doesn’t override this Total and Complete Moron. Maybe, just maybe, I’ll have to change my mind about firing him? But regardless, his Term ends shortly," Trump added.

Powell says he cannot be fired "under law"

In his post, the president included an image of a chart which showed the United States as having the world's 35th highest central bank rate.

Just the News pointed out how Trump referred to Powell as being a "numbskull," a "dumb guy," and "an obvious Trump Hater."

What's more, the website recalled how Trump said as recently as April that he had no plans to fire the Federal Reserve chairman.

For his part, Powell declared this past November that he would not step down if the president asked him to resign and argued that his firing would not be "permitted under law."

Legal experts maintain that Trump can get rid of Powell "for cause"

However, that position has been disputed by former Deputy Assistant Attorney General John Yoo and Washington fellow of the Claremont Center for the American Way of Life Robert J. Delahunty.

In an op-ed piece published by Fox News, Yoo and Delahunty maintained that "Trump can fire Powell under the laws that created the Federal Reserve as well as under the Constitution."

They explained that "the statute provides no express protection against removing Powell as chair – though under the statute, Trump would need "cause" to remove him from the board."

"While there may be an unwritten assumption and a longstanding custom that presidents may not remove Fed chairs from their position, nothing in the text of the statute prohibits them from doing so," the pair insisted.