Fed chair says he would not resign if Trump asked

Jerome Powell Photo: AP photo
Jerome Powell

January 04, 2019 10:29 AM

Federal Reserve Chairman Jerome Powell says he will not resign if asked to do so by President Donald Trump.

RELATED: Trump assails Fed as the 'only problem our economy has'

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Powell also says the central bank intends to be flexible going forward in determining when to hike its key policy rate. He also says that the Fed could alter its approach to trimming its huge balance sheet if it determines such a change is needed.

RELATED: Fed Chairman Powell says economic challenges remain

Powell's comments, made during a panel discussion in Atlanta, were immediately cheered by financial markets, which were already rallying on the basis of a strong unemployment report that showed 312,000 jobs were created in December.


 

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Associated Press

(Copyright 2019 by The Associated Press. All Rights Reserved.)

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