Federal Reserve Chair Jerome Powell made clear he's ready to defend the US central bank from political pressure following the re-election of Donald Trump, saying he wouldn't resign if asked and insisting the incoming president doesn't have the power to fire him or other senior Fed leaders.
"No," Powell said firmly on Thursday, when asked whether he would step aside if Trump asked for his resignation.
During a press conference following the Fed's two-day policy meeting, Powell said repeatedly that Trump, who explored firing the Fed chief during his first term in the White House, lacks the legal authority to demote or remove the chair or other senior Fed officials in Washington.
This story is from the November 09, 2024 edition of Business Standard.
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This story is from the November 09, 2024 edition of Business Standard.
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STREET OVERWEIGHT ON CONSUMPTION, LARGECAPS
The FY26 Union Budget marked a shift in the government stance towards consumption from its earlier focus on capital expenditure.
FM: Made sure we're ready for 'Make in India, for the world'
Union Finance Minister Sitharaman on Nirmala Sunday said the FY26 Budget had reinforced the foundations that would guide the country's progress towards a Viksit Bharat, having outlined clear destinations in certain parameters.
BOOST FOR DOMESTIC MANUFACTURING
The Budget assists the government's commitment to reduce tax burden and move towards a framework based on trust.
'Almost all of govt borrowing going for asset creation'
A day after presenting the Union Budget for 2025-26, Finance Minister NIRMALA SITHARAMAN spoke to Ruchika Chitravanshi, Asit Ranjan Mishra & Nivedita Mookerji on issues ranging from the theme of the Budget to income tax relief and challenging geopolitical environment.
₹6K cr boost for strategic oil reserves
Funds Galore
LIGHTENING THE BURDEN FOR ALL
Budget proposals aim to encourage the middle class to spend and help economic growth.
No Immediate Impact of Pay Commission on FY26 Budget
Expenditure Secretary MANOJ GOVIL, in post-Budget interaction with Ruchika Chitravanshi and Asit Ranjan Mishra in New Delhi, spoke about issues ranging from Unified Pension Scheme and pay commission to continued thrust on capital expenditure.
Will middle class queue up at polling booths?
The 2020 Assembly election was closely contested. Will the 2025-26 Union Budget's focus on Bihar's infrastructure, agriculture, and flood management swing the 2025 polls in the NDA's favour, and how will IT relief for the middle class pay off in the largely rural state? PRASOON PRIYE and ARCHIS MOHAN offer insights
India Inc looks to navigate Trump tariff storm
Some sectors hoping to cash in on the likely void created by Canada, Mexico, China
Consumption-related stocks likely to see further gains
Market reaction to the Union Budget was overall neutral. The income tax \"gift\" wasn't enough to move the needle
