Powell Stands Firm Against Potential Trump Resignation Request

Federal Reserve Chairman Jerome Powell stated he would not resign if President-elect Donald Trump asked him to, emphasizing that the president lacks the legal authority to fire or demote him. Powell's term ends in 2026, and he noted that Trump's election victory would not immediately affect the Fed's policy decisions. Despite Trump's previous criticisms of Powell's monetary policy, the Fed chair remains focused on the central bank's dual mandate of maximum employment and price stability.