Powell says he would reject any Trump request to resign (40/35)

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WASHINGTON — Federal Reserve Chairman Jerome Powell said Friday that he will not resign if asked to do so by President Donald Trump, and that he is prepared to be patient in deciding when to raise interest rates again.

Both of those messages cheered stock market investors who had been worried about Trump’s repeated attacks on his hand-picked choice to lead the nation’s central bank and also the Fed’s seemingly inexorable march to higher rates.

“There is no pre-set path for policy,” Powell said during an appearance at a conference of economists in Atlanta. “With the muted inflation readings we have seen coming in, we will be patient as we watch to see how the economy evolves.”

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Powell says he would reject any Trump request to resign

U.S. payrolls rise 312,000, wages top estimates in jobs blowout

Powell says he would reject any Trump request to resign

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Video by Reuters

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WASHINGTON — Federal Reserve Chairman Jerome Powell said Friday that he will not resign if asked to do so by President Donald Trump, and that he is prepared to be patient in deciding when to raise interest rates again.

Both of those messages cheered stock market investors who had been worried about Trump’s repeated attacks on his hand-picked choice to lead the nation’s central bank and also the Fed’s seemingly inexorable march to higher rates.

“There is no pre-set path for policy,” Powell said during an appearance at a conference of economists in Atlanta. “With the muted inflation readings we have seen coming in, we will be patient as we watch to see how the economy evolves.”

… To Read more, please click here

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Stocks rally as Fed chief eases concerns about rate hikes (39/35)

Powell says he would reject any Trump request to resign (40/35)