Federal Reserve Chair Jerome Powell recently made a statement regarding his position at the Federal Reserve in response to a question about potentially leaving his post before his term ends if President-elect Donald Trump were to ask him to do so. Powell firmly stated, 'Not permitted under the law,' indicating his belief that Trump does not have the authority to fire him.
Despite past public disagreements between Trump and Powell, a senior adviser to Trump, who chose to remain anonymous, suggested that Trump is likely to allow Powell to complete his term, which concludes in May 2026.
During his first term, Trump openly criticized the Federal Reserve's policies on occasion. However, Powell declined to comment on whether he is concerned about Trump potentially taking further actions to undermine the Fed's independence in his second term. When asked about this matter, Powell politely responded, 'I’m not going to get into any of the political things here today. But thank you.'
