While continuing to avoid direct comment on the president's withering criticism of central bank interest rate policy, Powell told '60 Minutes' that Trump can't remove him from office.
Federal Reserve Chairman Jerome Powell said in an interview aired Sunday that he does not think he can be fired by President Donald Trump.
"The law is clear that I have a four-year term, and I fully intend to serve it," Powell told the CBS news magazine show. Asked directly if he thought Trump could fire him, he said,"no." During that period, the U.S. saw its best economic gains of a recovery that began in mid-2009. GDP rose nearly 3 percent for the year, though most economists see that cooling off in the years ahead.
Powell said that the Fed, while likely on hold for a while, will be making its policy decisions based on the data and not on political considerations.
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