During a press conference on Thursday, Federal Reserve chair Jerome Powell said he would not resign if asked to do so by President-elect Donald Trump.
"Some of the president-elect’s advisors have suggested that you should resign. If he asked you to leave, would you go," Politico’s Victoria Guida asked.
Powell responded, "no," and added after further questioning that he did not think he was legally required to leave.
Powell was first nominated to be Chairman of the Board of Governors of the Federal Reserve System in 2017 by Trump, with Powell’s first four-year term beginning in 2018. Biden renominated Powell in 2021 for another four-year term beginning in 2022.
A senior advisor to Trump told CNN Thursday that the president-elect will likely keep Powell through the end of his term, which concludes in 2026. Trump also told Bloomberg in July that he intends to allow Powell to serve out the remainder of his term.
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