Fed Chair Powell Stands Firm Against Potential Trump Pressure

Federal Reserve Chair Jerome Powell stated he will not resign if asked by President-elect Trump, emphasizing the legal protections of his position and the Fed's political independence. This sets up potential conflict with Trump, who has previously criticized Powell for raising interest rates and considered firing him. The Fed's recent rate cuts and the political climate may influence future economic decisions, despite Trump's potential reelection posing a threat to the Fed's independence.