Trump Affirms No Plans to Replace Fed Chair Powell in New Term

President-elect Donald Trump has stated that he does not plan to replace Jerome Powell as Chair of the Federal Reserve when he returns to the White House.

Trump mentioned in an interview on NBC's Meet the Press that he does not see this happening. He also acknowledged that Powell might resign if asked, but he believes Powell would likely refuse such a request.

Powell, on the other hand, has reaffirmed his commitment to maintaining the Federal Reserve's independence. He emphasized that he would not step down if Trump requested his resignation. Powell clarified that the president does not have the authority to fire him or other senior Fed officials.

Trump has previously expressed a desire to influence monetary policy and has asserted his right to comment on interest rate adjustments, although he cannot issue direct orders.

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