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

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.