In his address to the World Affairs Council, Jerome Powell also expressed confidence that the US economy would be able to cut inflation to 2% gradually without any price surprises and without any growth surprises too. In short, strength in the economy and the labour market can be maintained.

Donald Trump is weighing a push from right-wing allies to nominate Kash Patel to lead the FBI, one of the clearest indications Trump plans to stick by his vow to fire Director Christopher Wray before his 10-year term ends and replace him with a loyalist.

Federal Reserve Chairman Jerome Powell said Thursday that he would not step down from his position if President-elect Donald Trump asked for his resignation. When asked by reporters if he would resign per Trump’s request, Powell simply said: “No.”