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Asked if he would leave the Federal Reserve at President-elect Trump’s request, Chairman Powell has a simple and emphatic answer: “No.””Do you think that legally you are not required to leave,” the same reporter asked Powell at a press conference Thursday.”No,” Powell repeated again.Later he added,” Not permitted under the law.”Trump became very critical of Powell toward the end of his first term in office because the president thought the Fed kept interest rates too high. Powell’s term as Fed chairman runs until May 2026.
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