Fed’s Jerome Powell says he would not step down if Trump asked for his resignation: ‘Not permitted’

  • by:
  • Source: NY Post
  • 11/08/2024
Federal Reserve Chairman Jerome Powell said Thursday that he would not step down from his position if President-elect Donald Trump asked for his resignation. 

When asked by reporters if he would resign per Trump’s request, Powell simply said: “No.”

“Not permitted under the law,” Powell said during a press conference after the Fed cut interest rates by a quarter point two days after former president Donald Trump’s victory over Vice President Kamala Harris.

Though Trump appointed Powell in 2017, he repeatedly slammed the chairman and the central bank during his administration for not easing monetary policies quick enough.

During his presidency, he called Powell and his Fed colleagues “boneheads” for not slashing interest rates.

Read Full Article Here
 
Jerome Powell by is licensed under flickr

Follow us

Read our latest news on any of these social networks!

Get latest news delivered daily!

We will send you breaking news right to your inbox


Have a tip? Let us know!

Recent Articles

...
Trump has big plans for Fourth of July 2026. What we know about America’s 250th

As Americans gear up for Fourth of July 2025 festivities, some are already looking to 2026, the celebration of the country's 250th birthday.

  • by:
  • Source: NPR
  • 07/03/2025
...
Waffle House drops egg surcharge as prices fall back to Earth

In a welcome sign that sky-high egg prices are coming home to roost, Waffle House is dropping its 50 cent per egg surcharge. "Egg-cellent news," the chain announced Tuesday in a social media post. "The egg surcharge is officially off the menu. Thanks for understanding."

  • by:
  • Source: AP News
  • 07/03/2025
...
Tesla sales plunge again as anti-Musk boycott shows staying power and rivals pounce on the weakness

Sales of Tesla electric cars fell sharply in the last three months as boycotts over Elon Musk’s political views continue to keep buyers away.

...
Ukrainian drone hits weapons plant 800 miles deep in Russia, killing at least 3

A Ukrainian drone struck an anti-aircraft missile plant 800 miles deep into Russia on Tuesday — as Kyiv ramps up and prioritizes its UAV production to match Moscow’s bombardments.