Federal Reserve Chair Jerome Powell had a clear, direct response when asked during a press conference Thursday if he would step down if asked to do so by President-elect Trump.

“No,” said Powell, whose term as chair ends in 2026.

When asked to elaborate and if he would be legally required to leave, he again said, “No.”

Powell later said it is “not permitted under the law” for the president to fire or demote him or any of the other Fed governors with leadership positions.

Trump appointed Powell during........

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