Fed Chief Jerome Powell Says He Won't Resign If Trump Asks

Kudlow Says Trump Meeting With Powell Desired by ‘Both Sides’More

Kudlow Says Trump Meeting With Powell Desired by ‘Both Sides’More

In mid-December, the Federal Open Market Committee voted to raise interest rates for the fourth and final time in 2018, even as President Trump urged them to "feel the markets".

"Particularly with the muted inflation readings that we've seen coming in, we will be patient as we watch to see how the economy evolves", Powell told the American Economic Association in Atlanta.

The head of the Fed, once confirmed by the Senate, can only be removed "for cause", not a policy disagreement.

The stock market has seen stomach-churning declines since October, a development that Trump has blamed on the Fed's continued rate hikes, although the president's trade dispute with China as well as concerns about global economic growth also played a part in the market volatility.

Trump has slammed Powell for rate hikes, meant to keep the economy from overheating, and last month polled advisers about whether he could fire the Fed chief, according to multiple reports.

Powell, who was appointed by Trump, also said he had not received any direct word from the White House about his job performance, and that no meeting with the president had been scheduled.

Police seen at Hannover Airport after vehicle drives through gate
The driver could have been on drugs as the incident unfolded, NDR said, adding that the quick on-site drug test was " positive ". The worldwide airport in Hannover handled 5.87 million passengers previous year , though it isn't one of Germany's top hubs.

The next meeting of the Federal Open Market Committee is set for January 29-30, and Powell plans to hold a press conference after that gathering as he will after each FOMC meeting going forward. Alongside past Fed chairs Janet Yellen and Ben Bernanke, Powell reiterated much of what he has said in the past few months concerning monetary policy. "The Fed is going loco and there's no reason for them to do it".

"The problem in my opinion is Treasury and the Fed", Trump said. Powell responded with a terse "No" when asked if he would resign if Trump requested him to do so.

The U.S.jobs report also showed the world's largest economy added 312-thousand jobs in December, higher than the expected 176-thousand jobs.

The Fed is "prepared to adjust policy quickly and flexibly" to support the economy, he added.

The Labour Department reported Friday that United States employers added a net 312,000 new positions in December, smashing economists' expectations. That suggests the Fed won't tighten again in March, she said.

"We're listening carefully.to the message that markets are sending and we'll be taking those downside risks into account as we make policy going forward", he said.

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