“The law clearly gives me a four-year term and I fully intend to serve it,” Fed Chair Powell said in response to a question about how he would respond if Trump asked him to resign.
Asked by Democratic Rep. Maxine Waters, chair of the House Financial Services Committee, "If you get a call from the president today or tomorrow and he said 'I'm firing you. Pack up and it's time to go.' What would you do?""I can't hear you," Waters replied, sparking laughter in the room."You think the president doesn't have the authority. Is that why you would not leave?" Waters asked.
Federal Reserve Board Chairman Jerome Powell testifies during a full committee hearing on "Monetary Policy and the State of the Economy" on July 10, 2019 in Washington,DC.Trump has repeatedly lashed out at Powell for the Fed's interest rate hikes and he has urged the central bank to slash rates, which traders are expecting later this month.
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