Jerome Powell firmly stated he would not resign as Fed Chair even if asked by Trump, emphasizing his legal standing and independence from presidential influence.
Powell's refusal to step down serves as a rebuke to Trump's desire for sway over the Federal Reserve, reinforcing the independence of the central bank.
Trump has historically criticized Powell’s performance, highlighting a longstanding tension between the White House and the Fed, especially regarding interest rate policies.
The Fed's recent rate cut decision indicates a response to declining inflation, amidst ongoing political conversations about the relationship between the presidency and the central bank.
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