Highlights

  • Fed Chair Powell clarifies that Trump can’t legally fire him
  • Powell stresses Fed’s freedom from political influence
  • Trump criticized Powell’s economic policies as growth-stifling
  • Fed Chair Powell’s job security is protected by law

Latest news

Anant Ambani announces Rs 6 crore temple donations, Rs 12 crore Rajarajeshwaram renovation; Guruvayur elephant welfare boost

Anant Ambani announces Rs 6 crore temple donations, Rs 12 crore Rajarajeshwaram renovation; Guruvayur elephant welfare boost

'The Devil Wears Prada 2' trailer drops: Miranda Priestly faces digital-era showdown

'The Devil Wears Prada 2' trailer drops: Miranda Priestly faces digital-era showdown

Ladies Who Lead Expands Leadership Engagements Across Mumbai and Bengaluru

Ladies Who Lead Expands Leadership Engagements Across Mumbai and Bengaluru

Cricketer Dhruv Jurel partners with Jaipur Watch Company

Cricketer Dhruv Jurel partners with Jaipur Watch Company

Banks to see healthy growth in Q4FY26, but margin pressures and risks remain: Nuvama

Banks to see healthy growth in Q4FY26, but margin pressures and risks remain: Nuvama

India tops Asia-Pacific investment rankings, attracts strong LP interest: McKinsey

India tops Asia-Pacific investment rankings, attracts strong LP interest: McKinsey

Spiritual Scientist Rashmi Aiyappa Conferred Lifetime Achievement Award for Pioneering Work in Wellness Industry

Spiritual Scientist Rashmi Aiyappa Conferred Lifetime Achievement Award for Pioneering Work in Wellness Industry

ANSR Announces ANSR MedTech, a Global Capability Center for a High-Growth MedTech Company

ANSR Announces ANSR MedTech, a Global Capability Center for a High-Growth MedTech Company

Federal Reserve Chief Powell Refuses To Bend To Political Pressure

Fed Chair Jerome Powell clarified that a President lacks legal power to fire him, countering rumors amid speculation about Trump’s return. Powell stressed the Fed's independence and vowed to prioritize U.S. economic stability above political pressures.

Federal Reserve Chief Powell Refuses To Bend To Political Pressure

In a rare move, Federal Reserve Chair Jerome Powell addressed rumors surrounding his job security if Donald Trump were to return as U.S. President.

During a recent FOMC meeting, Powell remarked that a President does not have the legal authority to fire the Fed Chair, highlighting the law’s protection of the Fed’s independence from political influence.

This comment comes amid speculation that Trump, who has previously criticized Powell’s economic policies, may consider taking drastic steps if he regains power.

During his presidency, Trump frequently voiced frustration over the Fed’s approach to managing interest rates, alleging it hindered economic growth.

Must Watch: Tesla Soars After Trump Victory; Elon Musk's wealth surges by $26 billion

However, Powell’s latest statement reaffirms that the Fed is designed to operate independently, protected from direct intervention by any administration.

Powell’s remarks underline the importance of the Federal Reserve’s autonomy in ensuring balanced economic growth.

He stated that his primary focus remains on stabilizing inflation and promoting employment, regardless of any political dynamics that might arise.

This statement signals that, even with a potentially controversial administration, the Fed’s leadership is bound by duty to serve the American people, not political agendas.

The Fed Chair’s stance has sparked discussions among political analysts and economists, who are closely watching the potential impacts of a Trump administration on the Federal Reserve’s future.

Powell’s commitment to the Fed’s independence serves as a reminder of the central bank’s critical role in maintaining economic stability.

Also Watch: What Trump’s Win Means for India: Markets, Trade, and More!

ADVERTISEMENT

Up Next

Federal Reserve Chief Powell Refuses To Bend To Political Pressure

Federal Reserve Chief Powell Refuses To Bend To Political Pressure

Centre plans to borrow Rs 8.20 lakh cr from market in first half of FY27

Centre plans to borrow Rs 8.20 lakh cr from market in first half of FY27

Reliance denies buying Iranian oil amid US sanctions waiver

Reliance denies buying Iranian oil amid US sanctions waiver

Premium petrol price up Rs 2, industrial diesel up Rs 22; no change in normal petrol, diesel rates

Premium petrol price up Rs 2, industrial diesel up Rs 22; no change in normal petrol, diesel rates

India's GDP expected to register over 8 pc growth in Sep-Dec: Report

India's GDP expected to register over 8 pc growth in Sep-Dec: Report

Govt announces seven measures to help boost exports

Govt announces seven measures to help boost exports

ADVERTISEMENT

editorji-whatsApp

More videos

RBI keeps interest rates on hold after US trade deal boosts outlook

RBI keeps interest rates on hold after US trade deal boosts outlook

RBI proposes to compensate customers up to Rs 25,000 loss due to fraud

RBI proposes to compensate customers up to Rs 25,000 loss due to fraud

RBI raises GDP growth projection of Q1, Q2 of FY27

RBI raises GDP growth projection of Q1, Q2 of FY27

RBI pauses rate cuts, retains interest rate at 5.25 pc

RBI pauses rate cuts, retains interest rate at 5.25 pc

Rupee jumps 122 paise to close at 90.27 against US dollar on India-US trade deal

Rupee jumps 122 paise to close at 90.27 against US dollar on India-US trade deal

Stock markets cheer India-US trade deal: Sensex, Nifty surge 2.5 pc

Stock markets cheer India-US trade deal: Sensex, Nifty surge 2.5 pc

UPI transactions hit record high of Rs 230 lakh crore in 2025-26 till Dec: Govt

UPI transactions hit record high of Rs 230 lakh crore in 2025-26 till Dec: Govt

Explained: India-US trade deal, tariffs and trade benefits

Explained: India-US trade deal, tariffs and trade benefits

Trade deal with US adds momentum to India's growth ambition: Industry leaders

Trade deal with US adds momentum to India's growth ambition: Industry leaders

Rupee jumps 119 paise to 90.30 against the US dollar on India-US trade deal

Rupee jumps 119 paise to 90.30 against the US dollar on India-US trade deal

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.