Fed Chair says he won't resign if Trump asks him to

[C_Clayton_Jones]

‘Fed Chair Jay Powell said Thursday that he would not resign if president-elect Donald Trump asked him to. Asked whether he would step down amid chatter that Trump's advisors had suggested he do so, Powell replied, "No."

Trump himself nominated Powell as Federal Reserve chairman in 2017 in his first administration. Powell also said that he was not legally required to leave if asked to do so, and that his staff had determined that the president lacked the capacity under the law to demote, at will, himself or any other Fed governors.

Powell's term is slated to end in May 2026. Powell made the comments during his regularly scheduled remarks following the release of the Federal Open Market Committee's latest statement on interest rate policy. The committee announced a quarter-point cut, a widely expected move.

Representatives for Trump did not immediately respond to a request for comment. Powell's comments will likely be seen as a bid to maintain the Fed's longstanding independence from outside political influence, though whether such immunity actually exists in practice has sometimes been debated.’

Fed Chair says he won't resign if Trump asks him to

Trump appointed Jerome Powell in 2017, during his first term as president.

www.nbcnews.com

Trump, of course, thinks he should have ‘a say.’

 

[JackOfNoTrades]

‘Fed Chair Jay Powell said Thursday that he would not resign if president-elect Donald Trump asked him to. Asked whether he would step down amid chatter that Trump's advisors had suggested he do so, Powell replied, "No."

Trump himself nominated Powell as Federal Reserve chairman in 2017 in his first administration. Powell also said that he was not legally required to leave if asked to do so, and that his staff had determined that the president lacked the capacity under the law to demote, at will, himself or any other Fed governors.

Powell's term is slated to end in May 2026. Powell made the comments during his regularly scheduled remarks following the release of the Federal Open Market Committee's latest statement on interest rate policy. The committee announced a quarter-point cut, a widely expected move.

Representatives for Trump did not immediately respond to a request for comment. Powell's comments will likely be seen as a bid to maintain the Fed's longstanding independence from outside political influence, though whether such immunity actually exists in practice has sometimes been debated.’

Fed Chair says he won't resign if Trump asks him to

Trump appointed Jerome Powell in 2017, during his first term as president.

www.nbcnews.com

Trump, of course, thinks he should have ‘a say.’

Powell will serve out his term. Then Trump will nominate someone else.

 

[WEATHER53]

See libs can’t learn
Another offering up of what is not on the table in order to try and smear Trump

 

[pknopp]

Powell will serve out his term. Then Trump will nominate someone else.

And the list of those he can nominate are so small as to really not make much difference.

 

[JohnDB]

‘Fed Chair Jay Powell said Thursday that he would not resign if president-elect Donald Trump asked him to. Asked whether he would step down amid chatter that Trump's advisors had suggested he do so, Powell replied, "No."

Trump himself nominated Powell as Federal Reserve chairman in 2017 in his first administration. Powell also said that he was not legally required to leave if asked to do so, and that his staff had determined that the president lacked the capacity under the law to demote, at will, himself or any other Fed governors.

Powell's term is slated to end in May 2026. Powell made the comments during his regularly scheduled remarks following the release of the Federal Open Market Committee's latest statement on interest rate policy. The committee announced a quarter-point cut, a widely expected move.

Representatives for Trump did not immediately respond to a request for comment. Powell's comments will likely be seen as a bid to maintain the Fed's longstanding independence from outside political influence, though whether such immunity actually exists in practice has sometimes been debated.’

Fed Chair says he won't resign if Trump asks him to

Trump appointed Jerome Powell in 2017, during his first term as president.

www.nbcnews.com

Trump, of course, thinks he should have ‘a say.’

Ummmmm
Trump has the authority and power to fire him....and he will indeed be fired.

Just because the Senate gives advice and consent doesn't mean that the appointments are not retractable. (As already proven numerous times)

He is toast!

By Powell!

 

[Rambunctious]

If Trump can't fire him I think Trump should appoint a overseer to sit right next to Powell and watch and scrutinize everything he does until he quits...

 

[Death-Ninja]

Powell is toast, Trump can, and likely will bring monumental pressure to be rid of him, not one fascist scumbag will be surviving, first up will be the national security council where Trump will be I assure every last one of you fascists, canning them all, followed immediately by canning the entire top tier at Foggy Bottom, CIA, NSA, SS, and FBI! Its going to be epic as you traitors are forced to suck down the absolute defeat of your fascist heroes....

 

[JohnDB]

If Trump can't fire him I think Trump should appoint a overseer to sit right next to Powell and watch and scrutinize everything he does until he quits...

Hello Vivek Ramaswi

 

[pknopp]

Ummmmm
Trump has the authority and power to fire him....and he will indeed be fired.

Just because the Senate gives advice and consent doesn't mean that the appointments are not retractable. (As already proven numerous times)

It's never been proven for this role.

 

[Thunk]

Even if Trump couldn't fire powell...he'd just tag him with a nick-name until powell left in tears

 

[pknopp]

Hello Vivek Ramaswi

He can't be nominated.

Only sitting Fed governors can be nominated.

 

[JohnDB]

It's never been proven for this role.

It has for most of the others....maybe not this post....but many just like it.

No job is "special".

 

[JohnDB]

He can't be nominated.

Only sitting Fed governors can be nominated.

Yes, but he still serves at the pleasure of the President .

 

[pknopp]

It has for most of the others....maybe not this post....but many just like it.

No job is "special".

"Many just like it" is an absolutely worthless rebuttal. The Federal Reserve is nothing like a standard cabinet position.

 

[Tumblin Tumbleweed]

See libs can’t learn
Another offering up of what is not on the table in order to try and smear Trump

Four more years. It's open season on the orange bag O' shit. Nothing is off the table when it comes to smearing his filthy ass.

 

[pknopp]

Yes, but he still serves at the pleasure of the President .

If you say so. (No president has ever tried to change one)

It would be a long dragged out court fight and ruling.

 

[JohnDB]

"Many just like it" is an absolutely worthless rebuttal. The Federal Reserve is nothing like a standard cabinet position.

If you say so. (No president has ever tried to change one)

It would be a long dragged out court fight and ruling.

Yes, Fed Reserve Chair is a standard cabinet position. Re-
Reagan and Greenspan.
Greenspan served through three or four Presidents but his predecessor was essentially forced to retire. (To save him the embarrassing firing)

Trump ain't Reagan and doesn't care.

 

[pknopp]

Yes, Fed Reserve Chair is a standard cabinet position. Re-
Reagan and Greenspan.
Greenspan served through three or four Presidents but his predecessor was essentially forced to retire. (To save him the embarrassing firing)

Trump ain't Reagan and doesn't care.

Volcker served out his term.

 

[whitehall]

NBC disinformation designed to encourage the phony left wing "resistance" movement. Much ado about nothing.

 

[Nobody911]

‘Fed Chair Jay Powell said Thursday that he would not resign if president-elect Donald Trump asked him to. Asked whether he would step down amid chatter that Trump's advisors had suggested he do so, Powell replied, "No."

Trump himself nominated Powell as Federal Reserve chairman in 2017 in his first administration. Powell also said that he was not legally required to leave if asked to do so, and that his staff had determined that the president lacked the capacity under the law to demote, at will, himself or any other Fed governors.

Powell's term is slated to end in May 2026. Powell made the comments during his regularly scheduled remarks following the release of the Federal Open Market Committee's latest statement on interest rate policy. The committee announced a quarter-point cut, a widely expected move.

Representatives for Trump did not immediately respond to a request for comment. Powell's comments will likely be seen as a bid to maintain the Fed's longstanding independence from outside political influence, though whether such immunity actually exists in practice has sometimes been debated.’

Fed Chair says he won't resign if Trump asks him to

Trump appointed Jerome Powell in 2017, during his first term as president.

www.nbcnews.com

Trump, of course, thinks he should have ‘a say.’

The relationship between Donald Trump and the Federal Reserve was indeed strained during his presidency. Trump frequently criticized the Fed's monetary policy decisions, particularly its interest rate hikes, which he believed were hindering economic growth.

Here are some of the key issues that contributed to the tension between Trump and the Fed:

1.Interest rate hikes: Trump felt that the Fed's decision to raise interest rates was too aggressive and would slow down the economy.
2.Criticism of Fed Chairman Jerome Powell: Trump publicly criticized Powell, calling him "clueless" and suggesting that he was not doing a good job.
3.Pressure to cut interest rates: Trump repeatedly called on the Fed to cut interest rates, which he believed would boost the economy.

As for solutions, here are some possible ways to improve the relationship between the President and the Fed:

1.Improved communication: Regular, private meetings between the President and the Fed Chairman could help to clear up misunderstandings and improve communication.
2.Respect for Fed independence: The President should respect the Fed's independence and avoid publicly criticizing its decisions.
3.Focus on long-term goals: The President and the Fed should focus on long-term economic goals, rather than short-term political gains.
4.Bipartisan support for Fed independence: Congress should reaffirm its support for the Fed's independence and ensure that the central bank is not subject to political pressure.

The Fed's independence is enshrined in law, and it is designed to be free from political influence. The Fed's dual mandate is to promote maximum employment and price stability, and it makes decisions based on its assessment of the economy, rather than political considerations.

The US government and the Federal Reserve are supposed to work together, both fiscal policies and monetary policies are powerful tools to control the US economy. What if Trump and the Federal Reserve keep attacking each other? That's what all Americans really want?