Fed chair says he will not resign even if pressured by Trump as interest rate cut
by Lauren Aratani in New York from on (#6S26C)
Trump has been a persistent critic of the Fed, which lowered rates for the second time in a row as inflation continues to ease
US Federal Reserve chair Jerome Powell said he would not resign if he received any pressure from Donald Trump's new administration to step down as the central bank lowered interest rates by a quarter-point Tuesday afternoon.
Trump has been a persistent critic of the Fed and its independence, calling its officials boneheads" in his last administration and arguing that he should have a role in setting interest rates.
Continue reading...