Federal Reserve Chair Jerome Powell Reveals He Will Defy President Trump

Federal Reserve chair Jerome Powell has declared he will not resign if President Trump asks him to step down.

When asked by a reporter if he plans to resign if he’s asked by Trump, Powell simply responded, “No.”

He added, “Not permitted under the law,”

Watch the moment Powell said it here:

🚨🇺🇸 BREAKING- FED CHAIRMAN JEROME POWELL SAYS HE WILL REFUSE TO STEP DOWN IF TRUMP REQUESTS IT

This man has done irreparable harm to our economy.

I'm sure Trump will figure out what to do with his A$$. pic.twitter.com/yEB8Lf3suS

— Diligent Denizen 🇺🇸 (@DiligentDenizen) November 7, 2024

🚨#BREAKING: Federal Reserve Chair Jerome Powell announced that he won't resign if asked by Donald Trump

— R A W S A L E R T S (@rawsalerts) November 7, 2024

Check out what CNBC reported:

Federal Reserve Chairman Jerome Powell said Thursday that he will not step down if President-elect Donald Trump asks for his resignation.

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When asked whether he would resign if requested to by Trump, the Fed chair simply said: “No.” Powell subsequently told reporters that the president does not have the power to fire or demote him.

“Not permitted under the law,” Powell told reporters at a news conference, after the Fed cut interest rates by a quarter percentage point.

Investors will be closely watching the president-elect’s contentious relationship with the Fed chair. Trump appointed Powell in 2017, but repeatedly lashed out against the central bank chief during his first term as president, arguing Powell was not easing monetary policy quickly enough.

Trump said in an October interview that the president should be able to weigh in on interest rate decisions.

“I don’t think I should be allowed to order it, but I think I have the right to put in comments as to whether the interest rates should go up or down,” Trump told Bloomberg News at the Economic Club of Chicago on Oct. 15.

Trump advisor suggest that you should resign?

Would you?

Powell: NO 🤡 pic.twitter.com/r15EIGizd4

— Aditya⚡️ (@studybitcoin21) November 7, 2024

Per The Hill:

Federal Reserve Chair Jerome Powell had a clear, direct response when asked during a press conference Thursday if he would step down if asked to do so by President-elect Trump.
“No,” said Powell, whose term as chair ends in 2026.

When asked to elaborate and if he would be legally required to leave, he again said, “No.”
Powell later said it is “not permitted under the law” for the president to fire or demote him or any of the other Fed governors with leadership positions.
Trump appointed Powell during his first term in 2017 but repeatedly and publicly criticized the Fed and its chair for not cutting rates fast enough throughout his tenure.

.@vtg2: "Some of the president-elect's advisers have suggested that you should resign. If he asked to leave, would you go?"

Fed Chair Jerome Powell: "No." pic.twitter.com/FNa2ybEo4j

— CSPAN (@cspan) November 7, 2024