Fed chair wouldn’t resign if Trump asked him to
by https://www.facebook.com/17108852506 · AlterNetImage via screengrab/CNBC.
Maya Boddie
November 08, 2024Bank
Jerome Powell, who serves as chair of the Federal Reserve of the United States, says that, under the law, Donald Trump cannot force him to resign.
During a Thursday press conference, Politico reporter Victoria Guida asked the Fed chair, "Some of the president-elect's advisers have suggested that you should resign. If he asks you to leave, would you go?"
Powell replied, "No."
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Another reporter asked the Trump-appointed chair, "Do you believe the president has the power to fire or demote you? And has the fed determined the legality of the president demoting, at will, any of the other governor's with leadership positions?"
Powell — who was appointed to the position in 2017 — replied, "Not permitted under the law."
CNN notes that Powell's term "expires in May 2026, according to a senior adviser to Trump who requested anonymity to describe private conversations."
Watch the video below or at this link.
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