US federal reserve chairman Jerome Powell says he would reject any Donald Trump request to resign

Washington: Federal Reserve Chairman Jerome Powell said he will not resign if asked to do so by President Donald Trump. Powell also said that the central bank intends to be flexible going forward in determining when to hike its key policy rate.

 US federal reserve chairman Jerome Powell says he would reject any Donald Trump request to resign

File image of Federal Reserve Board Governor Jerome Powell. Reuters.

He said that the Fed could alter its approach to trimming its huge balance sheet if it determines such a change is needed.

Powell’s comments, made during a panel discussion in Atlanta, were immediately cheered by financial markets, which were already rallying on the basis of a strong unemployment report that showed 3,12,000 jobs were created in December, 2018.

Updated Date: Jan 04, 2019 23:19:05 IST