Powell: Will not leave the Federal Reserve at Trump's request

2024-11-08 21:56:52

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ChainCatcher news, according to Jinshi reports, since Trump has taken the lead in the prediction market and won his second term on Tuesday, the U.S. bond market has experienced a slight crash, leading to an increase in mortgage and other household borrowing costs. Fortunately, Trump has a clear way to mitigate this damage and start his term on a good note: he should announce that he fully trusts Federal Reserve Chairman Powell, whose term will last until May 2026, and commit to remaining silent on monetary policy issues.

Powell had a brief conversation with reporter Victoria Guida:

Guida: Some of Trump's advisors suggest you should resign. If he asks you to leave, would you go?

Powell: No.

Guida: Do you believe legally you don't have to leave?

Powell: No, I don't have to.

It is reported that Powell was not joking. Following these comments, the yield on the 10-year U.S. Treasury initially fell by about 4 basis points, totaling a decline of 11 basis points for the day.

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