US Federal Reserve Chairman Jerome Powell tried to reassure financial markets on Friday that rising interest rates are not locked in, and reasserted the central bank's independence saying he will not step down even if President Donald Trump asks him to.
Trump has been a frequent and vocal critic of Powell and the Fed, blaming them for raising rates which he says pose a threat to his economic agenda -- an unprecedented public berating that breaks with recent norms.
Asked at an economic conference in Atlanta if he would step down should Trump request his resignation, Powell said, "No."
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