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Fed chair Jerome Powell says he won't resign if Trump asks

Jerome Powell speaks during a press conference
Photo: Xinhua/Liu Jie via Getty Images

Federal Reserve Chairman Jerome Powell said on Friday at the American Economic Association that he would not resign if President Trump asked him to, and that he has meeting scheduled with the President.

Why it matters: Bloomberg reported last month that President Trump has discussed firing Powell, who has received unprecedented criticism from Trump over raising interest rates. But it's unclear whether or not it would be legal for Trump to fire a Fed chairman.