YOU'RE FIRED! Federal Reserve Cuts Interest Rates by 25 Basis Points – Fed Chair Powell Says He Won’t Step Down if Trump Asks For His Resignation

The Federal Reserve cut interest rates by 25 basis points – or 0.25% – on Thursday after President Trump’s landslide victory.

The latest rate cut comes after the Fed slashed rates 50 basis points in September.

The benchmark rate is between 4.5% to 4.75%

Fed Chairman Jerome Powell told reporters on Thursday that he will not resign his position if Trump asks him to step down.

The ARROGANCE!

Reporter: "If [President-elect Trump] asked you to leave, would you go?"

Fed Chair Jerome Powell: "No."

Reporter: "Do you think that legally you're not required to leave?"

Powell: "No." pic.twitter.com/OoSDgvkZ8j

— Yahoo Finance (@YahooFinance) November 7, 2024