Federal Reserve Chair Jerome Powell has asserted that President-elect Donald Trump cannot legally remove him from his position, addressing speculations regarding his job security as Trump prepares to take office. During a press conference, Powell emphasized that it is 'not permitted under law' for the White House to force him out, and he would not resign if asked. Following a recent cut to borrowing costs, Powell indicated uncertainty about how Trump's administration might impact U.S. economic policy, particularly concerning tax cuts and inflation. Interest rates on U.S. debt have already risen due to concerns surrounding the potential economic effects of Trump's agenda. Meanwhile, Trump has stated he would allow Powell to serve out his term if he believed Powell was performing well. The dynamics between Trump and Powell could affect key monetary policy decisions moving forward.