Federal Reserve Chair Jerome Powell made clear he’s ready to defend the U.S. central bank from political pressure following the reelection of Donald Trump, saying he wouldn’t resign if asked and insisting the incoming president doesn’t have the power to fire him or other senior Fed leaders.
"No,” Powell said firmly on Thursday, when asked whether he would step aside if Trump asked for his resignation.
During a news conference following the Fed’s two-day policy meeting, Powell repeatedly said that Trump — who explored firing the Fed chief during his first term in the White House — lacks the legal authority to demote or remove the chair or other senior Fed officials in Washington.
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