Powell said the US presidential election will have “no effects” on the central bank’s policy decisions in the near-term, noting it’s too early to know the timing or substance of any potential fiscal policy changes.
Federal Reserve Chair Jerome Powell said he would not resign from his role if asked to do so by a re-elected Donald Trump, following the Fed’s decision Thursday to lower interest rates by a quarter percentage point.
When asked at a post-meeting press conference whether he would step down if requested by Trump, Powell replied forcefully, “No.” He also said removal or demotion of any Fed board leaders, including himself, is “not permitted under the law.”
