Powell Stands Firm Amid Trump's Pressure on Fed Leadership
Federal Reserve Chair Jerome Powell has made it clear he won't resign if President-elect Donald Trump asks him to, emphasizing that a president cannot legally fire or demote him. Despite past tensions and Trump's previous threats to remove Powell, the Fed chair remains firm in maintaining the central bank's independence from presidential influence. Trump's recent comments suggest he believes he should have a say in interest rate decisions, but this would violate the Fed's duty to operate independently from elected officials.