PANews reported on November 8 that Federal Reserve Chairman Powell stated at a press conference that the Fed's primary goal remains to keep inflation controlled at the 2% target and will not intentionally lower the inflation rate below 2% to compensate for the overshoot of the past few years. He pointed out that the current performance of the U.S. economy is better than that of other countries globally, the labor market remains strong, and although core inflation has eased somewhat, it is still at a high level. The Fed's current policy pace remains restrictive, and Powell stated that he will continue to cautiously adjust interest rates to avoid economic risks from acting too quickly or too slowly.
Powell emphasized that the Federal Reserve is currently moving towards a neutral interest rate, but has not yet determined a specific target value. In addition, Powell responded to questions about the impact of recent elections on policy, stating that the election results will not affect the Fed's short-term policy decisions and reiterated the independence of the Fed.
When asked at the press conference whether he would resign because of Trump's departure, he succinctly replied, 'No.' When asked whether the president has the authority to fire him, Powell answered, 'The law does not allow it.' Powell's term as chairman will expire in May 2026. His term as a governor will expire in January 2028. Most legal experts state that he cannot be dismissed without cause before his term ends.