Powell once said he couldn’t imagine leaving the Fed early—other than dying

While President Donald Trump continues to pressure Powell, a previous confrontation between the two men can provide evidence about how she played.

In 2019, today, Trump demanded the speedy federal reserves and reduced its prices amid a trade war he launched, raising questions about the future of Powell as head of his teacher and whether he would step down.

During the hearing of the Financial Services Committee in the House of Representatives in July of that year, he asked Powell at the time, Maxine Wattars, “If I received a call from the president today or tomorrow and said,” I fired on you. It’s time to go. “What will you do?”

“Of course I will not do it,” Powell replied.

“I can’t hear you,” Waters said, driving laughter in the room.

“The answer will be” no “, repeat Powell.

“Do you think the president does not have power. Is this why you will not leave?” He asked the water.

“It is clear that the law gives me a four -year term, and I intend to serve it completely,” said Powell.

According to the book 2022 Trillion dollar sorting by Wall Street Journal Correspondent Nick Timiraus, was more sincere on not being removed early.

“I will never leave this job, until my state period ends under any circumstances. Nothing at all. You will not see me in the salvation boat,” said Powell, a correspondent in the spring. “It does not happen to me at the slightest that there will be any situation in which I will not complete my state other than death.”

For Powell, who was first appointed to the Federal Reserve by Trump, the maximum priority was to ensure the continued American economy in expansion but also to maintain the Federal Reserve as an institution, including its independence, according to the book.

Weeks after this house session, the Federal Reserve lowered a quarter of a quarter, but Trump kept the escape and insulting Powell, and called for more mitigation.

Looking at this date, Powell’s state has become a problem again after Trump’s re -election. In November, Powell was asked whether he would step down if Trump asked him. He answered, adding later that “the law is not permitted” to the president to shoot him or reduce him or any federal reserve rulers in leadership positions.

After months, Trump imposed a sweeping tariff throughout the United States, raising fears of recession – economic growth along with high inflation. Although inflation has not yet extended and growth is still intact, the Federal Reserve has stopped lowering Trump rates.

On Wednesday, Trump said it was “very unlikely” to shoot Powell, while confirming that he discussed the concept of his rejection with Republicans in the House of Representatives during a White House meeting on Tuesday night.

However, Trump and other White House officials continued to attack Powell because of the renovations at the Federal Reserve, accusing him of mismanagement.

Democratic senator Elizabeth Warren, a long -term critic, suggested that the renewal case was “an excuse to shoot him.” Meanwhile, the CEO of JPMorgan Jimmy Damon and other leaders in the best banks last week said that the independence of the central bank is very important to the economy and financial markets.

Powell’s term ends as Chairman of the Conservative Council in May 2026, but his term as a ruler extends until January 2028. This means that he will remain qualified to work as head of the Federal Federal Market Committee that is subject to prices, if he chooses to circumvent as a ruler.

Historically, the Chairman of the Board was also the president of FOMC, but the law allows FOMC to determine its internal organization. So it is possible to be the person who can be as a FED board chairman, and a different person can work as FOMC.

On Tuesday, Treasury Secretary Scott Payet said that the moves to replace Powell are under implementation and suggested that he should consider step down from the Federal Reserve as soon as his presidency ends.

“Traditionally, the Federal Reserve Chair also bends as a ruler,” he said to Bloomberg. “There was a lot of talking about the shadow feeding chair that causes confusion before his candidacy. I can tell you, I think it will be very confusing for the market to keep a chair in the former Federal Reserve as well.”