The Federal Reserve chairman, Jerome Powell said Wednesday he could not be fired by Donald Trump.
The Trump appointee told the panel at a House Financial Service committee hearing that he would not comply with the president if he were to call and ask him to pack up and leave his post at the Fed.
‘Of course I would not do that,’ Powell responded when queried by Maxine Waters, the Democratic congresswoman from California.
‘I can’t hear you,’ Waters said, urging a more enthusiastic response from the Federal Reserve chairman.
Powell didn’t answer whether he believes Trump has the authority to fire him, but said he intended to serve out his full four-year term.
‘What I have said is the law gives me a four-year term and I fully intend to serve it,’ Powell said during Waters’ questioning.
Trump has spoken out, both in public remarks and on Twitter, several times against the central bank, pressuring for lower interest rates.
The chairman said the Fed doesn’t pay attention to any of the negative commentary and criticism from the president.