US Federal Reserve Chairman Jerome Powell said he would not leave early if Trump asked for it.

WASHINGTON – US Federal Reserve Chairman Jerome Powell said on November 7 that he would not resign if President-elect Donald Trump asked him to leave early.

Speaking at a news conference after announcing a quarter-point interest rate cut, Mr. Powell, whose term as Fed chairman expires in 2026, added that firing any of the Fed’s seven governors was also “not authorized by law.”

His comments underscore that policymakers may have to navigate a delicate balancing act in the next Trump administration, given the US president-elect’s recent criticism of the Fed.

During the campaign, Trump repeatedly accused Powell, his first choice to lead the U.S. central bank, of working for Democrats and suggested he would seek to replace him once his term as Fed chairman ended.

The president-elect also said he would “at least” like to have a say in setting the Fed’s interest rates, something the bank’s dual mandate from Congress does not currently allow to act independently in fighting inflation and unemployment.