Fed Chair Powell says he won't resign if Trump asks him to step down

Federal Reserve Chair Jerome Powell said he won't measurement down if President-elect Donald Trump, who has antecedently criticized Powell's performance, asks him to resign. 

Speaking astatine a property convention Thursday to talk nan Fed's move coming to trim its benchmark liking rate by 0.25 percent points, Powell added that it is not permitted nether nan rule for presidents to occurrence aliases demote nan Fed chair. 

During nan event, Powell mostly avoided answering media questions astir nan Nov. 5 election, successful which Trump defeated Vice President Kamala Harris.

"I'm not going to get into nan governmental things present today," Powell said successful consequence to a mobility from CBS News' Kelly O'Grady. 

Trump nominated Powell to lead nan Fed successful 2017. Powell's word arsenic Fed chair ends May 15, 2026.

—This is simply a breaking communicative and will beryllium updated.

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• Jerome Powell
• Donald Trump
• Federal Reserve