Fed Chairman said he would not resign

The head of the Federal Reserve Service (FRS), Jerome Powell, said he would not resign, even if US President Donald Trump asked him to. 

“No,” Powell replied to the moderator’s question whether he would leave the post at the request of Trump. 

A discussion with Powell and former Fed chiefs, Janet Yellen and Ben Bernanke, took place on Friday at the American Economic Association. 

Powell also promised that the Fed would be “very careful” about raising rates. At the end of December, the fed changed its forecast for raising the base rate-instead of the planned three, the regulator intends to hold two increases. 

Trump has repeatedly criticized the Fed for raising the rate, saying that it could hurt economic growth.

Tom Tompson

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