Legal filings or public statements from the Trump administration or major news outlets

Fed Chair Powell Says He Won't Resign, Asserts Trump Can't Legally Fire Him

Nov 7, 2024, 08:07 PM

Federal Reserve Chair Jerome Powell stated on Thursday that he would not resign if asked by President-elect Donald Trump, despite suggestions from some of Trump's advisers that he should step down. When asked during a press conference if he would leave his post at the President's request, Powell firmly replied, 'No.' When pressed further on whether he believes he is legally required to leave if asked, he responded, 'No.' Powell also asserted that the President does not have the legal authority to fire or demote him, stating, 'Not permitted under the law.' He emphasized his commitment to serve his full term and highlighted the importance of the Federal Reserve's independence.