Federal Reserve Chair Jerome Powell has stated he will not resign from his position if requested by the incoming administration, asserting that the law does not permit the president to remove him or other senior leadership. Following the Fed’s decision to lower interest rates by a quarter percentage point, Powell emphasized the central bank’s independence from political influence. He noted that the recent election will have no immediate impact on monetary policy, as the committee remains focused on maintaining economic stability and managing inflation targets.
- Jerome Powell confirmed he would not step down from his role even if asked by President-elect Donald Trump.
- The Federal Reserve Chair stated that the removal of Fed governors is “not permitted under the law.”
- The Federal Reserve announced a 25-basis-point interest rate cut, bringing the benchmark rate to a range of 4.5% to 4.75%.
- Powell indicated that the results of the 2024 election will have no near-term effect on the central bank’s policy decisions.
- Powell’s current term as Federal Reserve Chair is set to expire in May 2026.
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FDT!
Ef Trump, he is systematically destroying US and world economy with his low IQ early onset senility, degeneracy-release the Pedo files