Federal Reserve Chairman Jerome Powell told reporters Thursday he would not step down from his appointed position if Donald Trump asked him to, saying he’d have no obligation to leave if the president requested it before the end of his term in 2026.

Trump weighed ousting Powell in 2018, but the Fed chief told then-Treasury Secretary Steven Mnuchin that he would fight his removal, according to the Wall Street Journal.

The CME FedWatch Tool shows that investors are fully pricing in a 25 bps cut, while there is a nearly 70% probability of another rate reduction in December. The market positioning suggests that the US Dollar (USD) faces a two-way risk heading into the event.

The question of whether Mr. Powell might be on the chopping block should Trump serve a second term has been the subject of debate through the course

The Federal Reserve sets US interest rates and manages monetary policy, and its chair, Jerome Powell, has declared he won't be stepping down until his term ends in 2026.

Federal Reserve Chairman Jerome Powell was asked if he would resign if President-elect Trump were to ask and he said "no." NBC News senior business correspondent Christine Romans and University of Michigan Professor of Economics and Public Policy Justin Wolfers join Ana Cabrera to provide more insight on the economy.

The central bank has made its latest interest rate decision amid reports about Fed Chair Jerome Powell.

Jerome Powell has made it clear that if President Donald Trump attempts to fire him, he’ll sue. He’s said it once, he’s said it a hundred times: The Federal Reserve’s chair can’t be tossed out simply because the Oval doesn’t like interest rate policy.