Chairman of the Federal Reserve Jerome Powell gave a blunt response to a reporter when asked if he would resign if President-pick Donald Trump requested him to do so.

Powell held press briefing on Thursday following Trump’s victory on Tuesday. The chairman noted all through the conference that the election outcomes would haven’t any close to-term coverage affect on the Federal Reserve.

When asked by Politico’s Victoria Guida whether he would resign if Trump called for it, Powell merely responded, “No.” Powell then stated that the president does not have the facility to fireside or demote him.

Trump elevated Powell in 2017 to the place of chairman however had a public falling out with him right through his first time period as a result of Trump believed Powell used to be not easing financial policy fast sufficient. Powell used to be at first nominated to the Federal Reserve under President Barack Obama again in 2012.

GUIDA: One of the crucial president-decide on’s advisers have steered that you must resign if he asks you to leave. Would you go?

POWELL: No.

GUIDA: Are you able to observe up on — Do you suppose that legally you are not required to depart?

POWELL: No.

Watch the clip above by means of Fox Industry.

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