The Steady Drip: Powell Would Not Resign as Fed Chief If Asked by Trump (Connecting the Dot: Jerome Powell, Federal Reserve, the Carlyle Group, the Bretton Woods Committee, Janet Yellen, the U.S. Department of the Treasury & Soros Funding, All Networking)

Powell Would Not Resign as Fed Chief If Asked by Trump (Connecting the Dot: Jerome Powell, Federal Reserve, the Carlyle Group, the Bretton Woods Committee, Janet Yellen, the U.S. Department of the Treasury & Soros Funding, All Networking)

Newsmax.com

By Mark Swanson | Thursday, 07 November 2024 05:33 PM EST

https://www.newsmax.com/politics/powell-federal-reserve/2024/11/07/id/1187184/

Federal Reserve Chairman Jerome Powell said Thursday he would not resign if asked to by President-elect Donald Trump.

“No,” Powell said, answering “no” a second time when asked if he would be legally required to leave.

Powell made the remarks in a press conference to discuss the Fed cutting interest rates by a quarter percentage point.

Later, Powell said firing or demoting the fed chief is “not permitted under the law.” The Fed is an independent and politically agnostic agency.

Trump appointed Powell in 2018 but repeatedly criticized him for not lowering rates fast enough throughout Trump’s term. President Joe Biden brought Powell back in 2022.

Trump said last month that he should have the ability to offer advice on interest rates.

“I don’t think I should be allowed to order it, but I think I have the right to put in comments as to whether the interest rates should go up or down,” Trump said in an interview with Bloomberg News on Oct. 15.

“I think it’s fine for a president to talk,” he said. “It doesn’t mean that they have to listen.”

With Powell’s current term set to end in 2026, Trump said months ago that he would not reappoint him.

“I would not reappoint him. I thought he was always late, whether it was good or bad, but he was always late,” Trump said in August.

Connecting the Dots:

Jerome H. Powell (Jay) is the Chairman for the Federal Reserve and was a partner at the Carlyle Group.

Edward J. Mathias is a managing director at the Carlyle Group and a director at the Economic Club of Washington.

David M. Rubenstein is a co-founder & co-CEO for the Carlyle, the president of the Economic Club of Washington, co-chairman for the Brookings Institution (think tank) and Joe Biden spent Thanksgiving with him and Group.

Vernon E. Jordan Jr. was the president of the Economic Club of Washington and is an honorary trustee at the Brookings Institution (think tank).

Foundation to Promote Open Society was a funder for the Brookings Institution (think tank).

George Soros was the chairman for the Foundation to Promote Open Society.
Donald L. Kohn is a senior fellow at the Brookings Institution (think tank), was the vice chairman for the Federal Reserve Board and a member of the Federal Open Market Committee (FOMC).

Alice M. Rivlin is a senior fellow at the Brookings Institution (think tank) and was the vice chair for the Federal Reserve Board.

Richard C. Blum is an honorary trustee at the Brookings Institution (think tank), married to Senator Dianne Feinstein and an Economic Advisory Council member for the Federal Reserve Bank of San Francisco.

Louis W. Cabot is an honorary trustee at the Brookings Institution (think tank) and was a director at the Federal Reserve Bank of Boston.

Susan M. Collins is a nonresident senior fellow at the Brookings Institution (think tank) and a director, Detroit branch for the Federal Reserve Bank of Chicago.

Glenn H. Hutchins is a trustee at the Brookings Institution (think tank) and a director at the Federal Reserve Bank of New York.

John C. Whitehead is an honorary trustee at the Brookings Institution (think tank) and was the chairman for the Federal Reserve Bank of New York.

Ben S. Bernanke is a distinguished fellow at the Brookings Institution (think tank) and was a chairman for the Federal Reserve Board.

Lael Brainard was a VP & director for the Brookings Institution (think tank) and is a member of the Federal Reserve Board.

Karen Dynan was a VP for the Brookings Institution (think tank) and a senior adviser for the Federal Reserve Board.

Douglas W. Elmendorf was a senior fellow at the Brookings Institution (think tank) and an assistant director, Research and Statistics for the Federal Reserve Board.

Donald L. Kohn is a senior fellow at the Brookings Institution (think tank) and was a vice chairman for the Federal Reserve Board.

Foundation to Promote Open Society was a funder for the Brookings Institution (think tank).

George Soros was the chairman for the Foundation to Promote Open Society and is a member of the Bretton Woods Committee.

Alan S. Blinder is a member of the Bretton Woods Committee and was a vice chairman for the Federal Reserve Board.

Donald L. Kohn is a member of the Bretton Woods Committee and was a vice chairman for the Federal Reserve Board.

Edwin M. Truman is a member of the Bretton Woods Committee and was a director of the international finance division for the Federal Reserve Board.

Paul A. Volcker is a member of the Bretton Woods Committee and was the chairman for the Federal Reserve Board.

Stanley Fischer is a member of the Bretton Woods Committee and the vice chairman for the Federal Reserve Board.

Randal K. Quarles is a member of the Bretton Woods Committee and a vice chairman for supervision nominee for the Federal Reserve Board.

George Soros is a member of the Bretton Woods Committee and the founder & chairman for the Open Society Foundations.

Open Society Foundations was a funder for the Atlantic Council of the United States (think tank).

Timothy D. Adams is a director at the Atlantic Council of the United States (think tank) and was an undersecretary for the U.S. Department of the Treasury.

David D. Aufhauser is a director at the Atlantic Council of the United States (think tank) and was a general counsel for the U.S. Department of the Treasury.

James A. Baker III is an honorary director at the Atlantic Council of the United States (think tank) and was a secretary for the U.S. Department of the Treasury.

Kenneth W. Dam is a lifetime director for the Atlantic Council of the United States (think tank) and was a deputy secretary for the U.S. Department of the Treasury.

Stuart E. Eizenstat is a director at the Atlantic Council of the United States (think tank) and was a deputy secretary for the U.S. Department of the Treasury.

Robert M. Kimmitt is a director at the Atlantic Council of the United States (think tank) and was a deputy secretary for the U.S. Department of the Treasury.

George P. Shultz is an honorary director at the Atlantic Council of the United States (think tank) and was a secretary for the U.S. Department of the Treasury.

Herbert M. Allison Jr. was a director at the Atlantic Council of the United States (think tank) and an assistant secretary at the U.S. Department of the Treasury.

Teresa M. Ressel was a director at the Atlantic Council of the United States (think tank) and an assistant secretary at the U.S. Department of the Treasury.

Open Society Foundations was a funder for the Atlantic Council of the United States (think tank).

George Soros is the founder & chairman for the Open Society Foundations and was the chairman for the Foundation to Promote Open Society.

Foundation to Promote Open Society was a funder for the International Rescue Committee.

Timothy F. Geithner was a secretary for the U.S. Department of the Treasury, an overseer at the International Rescue Committee and is a director at the International Rescue Committee.

Indra K. Nooyi is an overseer at the International Rescue Committee and was a director at the Federal Reserve Bank of New York.

ONE Campaign is a partner with the International Rescue Committee.

Jay Mazur is an overseer at the International Rescue Committee and was a director at the Roosevelt Institute.

Jonathan Soros is a senior fellow at the Roosevelt Institute and George Soros’s son.

George Soros is Jonathan Soros’s father and was the chairman for the Foundation to Promote Open Society.

Foundation to Promote Open Society was a funder for the Roosevelt Institute and the Climate Reality Project.

Joseph E. Stiglitz is the chief economist & senior fellow for the Roosevelt Institute, a director at the Climate Reality Project, a chairman for the Council of Economic Advisers and shared the 2001 Nobel Prize in economics with George A. Akerlof.

George A. Akerlof shared the 2001 Nobel Prize in economics with Joseph E. Stiglitz is a professor at the University of California, Berkeley and married to Janet L. Yellen.

Janet L. Yellen is married to George A. Akerlof, a professor emeritus for the University of California, Berkeley, the chairman for the Council of Economic Advisers, the chair for the Federal Open Market Committee (FOMC) and the chair for the Federal Reserve Board.

David H. Romer is a professor at the University of California, Berkeley, a junior staff economist for the Council of Economic Advisers and was a senior fellow at the Brookings Institution (think tank).

Foundation to Promote Open Society was a funder for the Brookings Institution (think tank).

George Soros was the chairman for the Foundation to Promote Open Society.

Donald L. Kohn is a senior fellow at the Brookings Institution (think tank), was the vice chairman for the Federal Reserve Board and a member of the Federal Open Market Committee (FOMC).