Atlanta (CNN Business) Federal Reserve Chairman Jerome Powell says he would not resign if pressured to do so by President Donald Trump. "No," Powell answered simply, when asked Friday morning during a panel at the annual American Economics Association conference alongside former Fed chairs Janet Yellen and Ben Bernanke. Trump has repeatedly criticized Powell for continuing to tighten monetary policy, saying on Twitter that it's the "only problem" with the economy. The President has also asked advisers amid increasing market volatility in recent weeks whether he can fire Powell. Trump chose Powell in 2017 to succeed Yellen, bucking the practice of reappointing Fed chairs to second terms.

Source: CNN January 04, 2019 15:58 UTC