The chair of the Federal Reserve made clear he would not resign, even under pressure. But pressure from the White House is likely, market watchers say.
Jerome Powell, the chairman of the Federal Reserve, speaking in Washington on Thursday after the central bank lowered interest rates by a quarter of a percentage point.
President-elect Donald J. Trump elevated Jerome H. Powell, the Fed chair, to his current role in early 2018, but later soured on Mr. Powell and considered trying to fire or demote him.
Donald Trump’s return to the White House could upend some industries and the economy. But stocks and other assets are soaring on hopes that a new, business-friendly era beckons.
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