jerome powell said he would not leave his post — jerome powell said he would not leave his post if— jeromenald trump. he hit back at the president does not have

jerome powell said he would not leave his post — jerome powell said he would not leave his post if— jeromeid he would not leave his post if asked _ jerome powell said he would not leave his post if asked by - leave his post if asked by president—elect donald trump. he hit back at the president does not have the legal power to fire or demote him.- does not have the legal power to fire or demote him. some of the president — to fire or demote him. some of the president elect's _ to fire or demote him. some of the president elect's advisers l the president elect's advisers have — the president elect's advisers have suggested you should resign _ have suggested you should resign. if he ask you to leave, would — resign. if he ask you to leave, would you _ resign. if he ask you to leave, would you go?— resign. if he ask you to leave, would you go? no. can you follow-op _ would you go? no. can you follow-up on _ would you go? no. can you follow-up on - _ would you go? no. can you follow-up on - do - would you go? no. can you follow—up on — do you think legally, _ follow—up on — do you think legally

fed chair, jerome powell, says it is too early to tell how the new trump administration might affect d's largest economy — or borrowing costs. mr powell also hit back at speculation that his post might be injeopardy, as donald trump prepares to assume power in washington. our north america business correspondent, ritika gupta has all the details. jerome powell said he would not leave his post if asked by president—elect donald trump. he hit back that the president does not have the legal power to fire or demote him. some of the president—elect�*s advisers have suggested i'm steve lai. let's begin in the united states — where the federal reserve has lowered its key interest rate by a quarter of a percentage point. fed chair, jerome powell, says it is too early the world's largest economy — or borrowing costs. mr powell also hit back at speculation that his post might be injeopardy, as donald trump prepares to assume power in washington. has all the details. jerome powell said he would not leave his post if asked by president—elect donald trump. he hit back that the president does not h

and while some in donald trump's circles have suggested thatjerome powell suggested that jerome powellaside if donald trump wants him to, jerome powell making it very clear that he will not do that and also, that the law is on his side, that he doesn't have to resign if the president asks. donald trump has suggested and said for now thatjerome powell, he would like to keep him in his role until the end, in 2026. him in his role untilthe end, in 2026. ., . him in his role untilthe end, in 20263-— in 2026. thanks so much for that, nada _ in 2026. thanks so much for that, nada tawfik _ in 2026. thanks so much for that, nada tawfik in - in 2026. thanks so much for that, nada tawfik in west i in 2026. thanks so much for i that, nada tawfik in west palm beach in florida, just next to mar—a—lago. let's return to the us election and what a second trump presidency could mean for the war in ukraine. the country relies on us support, including tens of billions of dollars in military aid. during his campaign, trump said he would end the war in just 2a hours. he also criticised the amount of aid be

jerome powell — what did you make of his comments yesterday? lear that the fed is an independent agency, and also that, despite many of the comments mr trump is made on the campaign trail, that the only reason the chairman can be removed is for misconduct of some type. so he's not going to step down and he won't be intimidated, if that was the purpose of the many comments that were made on the campaign trail. �* . , that were made on the campaign trail. �* ., , , ., trail. and he was questioned, and obviously _ trail. and he was questioned, and obviously two _ trail. and he was questioned, and obviously two curt - trail. and he was questioned, l and obviously two curt answers as to whether he would step down or not if he was fired — take us through the legalities of it. donald trump actually appointed him back in 2018, so what's their beef?— what's their beef? well, the thin is what's their beef? well, the thing is mr _ what's their beef? well, the thing is mr trump _ what's their beef? well, the thing is mr trump has - what's their beef? well,

and by the way, donald trump has not said that he wants to get jerome powell out.eil: that's right, he has not commented on the story at all to your point. ken, you mentioned the paul voelker story, it wasn't good for jimmy carter, but good for the economy and later when ronald reagan came in to deal with inflation. that was then, this is now. what do you make of the market reaction to donald trump coming in, no president this past century has had a response like this to his election and i know a lot of it built up on excitement about tax cuts, cutting regular laces -- regulations and what do you think? >> first, stepping back and putting this into a bigger contextual history the period between the election and end of the year has always been good to great unless we've already had an extant, longstanding recession like the year 2000 or like we had in 2008. otherwise it's been a good period. the notion of a single day being exceptional compared to an average is not terribly important because averages are made up of markets be extremely volatile anyway and in the his

fed chair, jerome powell, says it is too early to tell how the new trump administration might affect largest economy — or borrowing costs. mr powell also hit back at speculation that his post might be injeopardy, as donald trump prepares to assume power in washington. our north america business correspondent, ritika gupta has all the details. the federal reserve chair, jerome powell, said he would not leave his post if asked by president—elect donald trump. he hit back that the president does not have the legal power to fire or demote him. some of the president—elect�*s advisers have suggested you should resign. if he asked you to leave, would you go? no. can you follow—up on — do you think legally, you're not required to leave? no. in his presser on thursday, the fed chair was inundated with questions about how officials may be adjusting economic forecasts in response to trump's reelection. powell said the election outcome would not affect what policymakers do in the near—term because it's too early to know what actions the trump administration will take, and he added that officials

sidelining jeremy powell -- jerome powell, who he appointed in 2017. chair powell was asked about that thursday at a news conference. >> some of the president-elect's advisors have suggested you should resign. if he asked you to leave, would you go? >> no. >> do you think that legally you are not required to leave? >> no. >> do you believe the president has the power to fire or demote you? has the fed determined the legality of a president demoting at will any of the other governors with leadership positions? >> not permitted under the law. >> it's not permitted under the federal reserve act of 1913, under wilson. the fed is an independent institution that's reassuring to global markets and domestic markets. there's no difference between the two. let's talk about that, because when donald trump came in, he got rid of janet yellen and put jerome powell in and gave him holy hell for the first two years. how do you see him interfering or respecting the fed's independence? >> i don't think donald trump really respects anybody's independence, even an institu

what about jerome powell? what _ with that. what about jerome powell? what happens - with that.happens with l powell? what happens with regard to his job? powell? what happens with regard to hisjob? we know the central bank is independent, but president trump... well, when he becomes president, he is likely to have someone in that position who is more in line with his thinking was yellow they have a very bumpy relationship over the years. we have to ., , ,., ., have to do... president obama appointed _ have to do... president obama appointed powell _ have to do... president obama appointed powell to _ have to do... president obama appointed powell to the - have to do... president obama appointed powell to the board| appointed powell to the board of governors. when trump became president he made him fed chair and a couple of months ago with that half rate cut in september, president trump was very critical of powell and saying he was trying to support the democrats. there is a lot of unhappiness that we hear from president trump, but i think he will probably keep powell in place

jerome powell refused to talk about politics and decisions. we same employee don't know about what's happening. we know he is staying in the chair. he made that very clear when he was asked. >> some of the president-elect' 's advisers suggested that you should resign. if he asked you to leave, would you go? >> no. >> can you follow up? do you think legally you are not required to leave? >> yep. that was a mic drop moment. president-elect trump likes lower interest rates. borrowers like lower interest rates, makes credit cards and mortgages cheaper. fed is trying to cut rates of course until they're forced perhaps to do otherwise based on government policy. it will be an interesting year, guys. >> it will be. thank you. >>> this morning jury deliberations will continue in the delphi murder case. coming up, details on the complicated evidence that jurors are wading through to reach a verdict in the tragic murder of two teen girls. >>> a programming note, a look at how new weight loss medications are transforming lives. is ozempic right for you?

neil: if jerome powell stops with the rate cuts or slows, the flipside is he's going to pick up steamket would be on fire for a while. at some point we will retrace and if you are going to see continued rate cuts. it's the policy of the new administration because it is choking us, powell went too far, those rates high and finish his term and that is it. he will be on case street with his desk. neil: he says the president can't make it happen, he didn't volunteer, he was asked that question but can't let it down. >> i was shocked that jerome powell said the president can't take me out, those were fighting words, that said take me on, donald trump. i was surprised with that. but there's a lot of emotion going into the election and a dance to make it perfect and so many factors there. neil: a lot of unpredictable -- thank you very much. taking a peek around those who got enriched in this market including elon musk of tesla fame going into today, up $70 billion. $315 billion come made him the richest man in the world. stock is down a little bit today, 16 points but the fact of the matter

but cuddle a potential fight with fed can care jerome powell be brewing?he president-elect sure could make life miserable for him. why little-covered story could be the big story next year. all that and a tale of two parties, one whooping it up i, the other, well, not so much. republican senator-elect tim sheehy, and outgoing michigan congressman dan kildee on where his party went wrong. they're here. and the election impact not just here. british ambassador to the u.s., karen pearce, on what donald trump's return to office means for the world. welcome, everybody, i'm neil cavuto the what a week we just had, right? history changing in a big with way. let's go to west palm beach where we'll find lucas tomlinson as the administration to come is preparing for the administration to be. lucas. >> reporter: well, good morning, neil. the vetting has already started across the intercoastal waterway behind me in palm beach, and with a republican majority coming to the senate, president-elect trump should have no problem getting his picks for the cabinet confirmed.

and, yeah, you know, jerome powell and president trump do have a history. t chair powell was not moving fast enough to cut rates. so while president trump was delivering a booming economy through a pro-growth economic agenda of tax cuts, regulatory relief, unleashing our great energy sector and striking trade deals with our trading partners, the economy could have been so much better if powell had moved faster to cut rates. charles: right. >> so president trump actually made that criticism public. there was a bit of a public scrap over the course of, you know, a couple of months to a year. and jerome powell resisted that public pressure coming from the white house. but there is ap entrenched history here -- an entrenched history here that may play out publicly again come january 20. charles: what do you think, i mean, listen or, you wear a lot of hats, you've worn a lot of hats, and now you also have some insider knowledge, and you've been down in d.c. what do you think should happen? what would be an elegant solution? >> well, you know, look, i believe any

chairman jerome powell announced the benchmark rate will be cut a quarter of a percentage point, but as jennifer b isram explains, it's not clear where interest rates will go from here. >> reporter: auto loan costs are coming down and people with credit card debt are feeling a little relief from record high interest, but mortgage rates are actually on the rise, making it difficult for mason cunya to find an affordable home. >> it doesn't really make sense to buy a home with the interest rates where they are. >> not all loans are created equal. >> reporter: cbs news business analyst jill schlesinger says mortgages are influenced more by the bond market than the fed. >> now that the election results are in, the bond market is somewhat worried trump tariffs could lead to higher prices. >> reporter: the president-elect has announced a 10% tariff on goods imported from other countries, but economists at goldman sachs believes that might push inflation up. rising inflation could slow down future rate cuts. the fed considers itself an independent agency, but on the campaign trail trump ques

remember, donald trump appointed jerome powell to this job in 2017, confirmed in 2018.m runs out in may of 2026. this point, he will likely finish his term, that is the law. mr. trump was talking to maria in february and said he thought sometimes he was political, he's made some jabs at jerome powell. they did cut interest rates by a quarter point. >> carley: we know where he stands on finishing out his term. >> todd: i'm told steve madden boots are made for walking and that is what they are doing right out of china thanks to trump's victory. that was good, great. >> cheryl: a for effort on that one. a lot of folks said the one thing you can bet on that donald trump is going to do when he gets back into office, more china tariffs. china, yeah, that is going to happen, he's been threatening up to 60% on chinese products. steve madden says they will slash china sourcing up to 45%, this is the ceo, we are putting that plan in motion, the percentage will come down, we are going forward. i want to say here, it is not -- you would think, they are going to quit producing in ch

neil: you mentioned jerome powell.asked donald trump, relieve him of his duties, fire him, he doesn't have to go. how do you think those two are going to be getting along? >> i hope it doesn't matter. what i mean by that is the president is the president of the united states. but there are institutions in american life that are beyond the reach of any one political leader. i want the fed to be independence, to do its job, not be bent toward biden or trump or anyone else. i want -- professionally economists to look at the economy and help us check our medicine. it is painful for a political body to do that. it is hard to raise taxes, to cut spending but the fed has the independence to maintain a hard line on rates and i am speaking as one of the primary victims of higher rates. every real estate broker would love to see low rates but we have to think like americans and do what's best for the country. neil: good seeing you again. you don't see too many people getting a balanced load. looking at the market, more gains tha

if he wanted to try to influence things, is there anything that he could do if jerome powell refuseso not under current law. i mean, i think the only outside possibility that would exist, katy, would be for there to be a new mandate written by congress for the federal reserve, what we call humphrey hawkins, the rules as written by congress call for the federal reserve to maintain max up sustainable employment and price stability. they would also have to rewrite the rules around nominating and maintaining the governorships and chairmanships of the federal reserve. currently no. would he have a big enough margin in congress to do something that would alter that, i doubt it, but he could certainly try if the numbers went his way. >> let's talk about what the fed did today, they cut rates by a quarter of a percentage point again. there's also a record stock market right now. >> yeah. >> donald trump stands to inherit quite a good economy. >> absolutely. he does, and the fed is lowering interest rates, slowly, it might continue to go slowly because the economy is so strong, despite what e

he witnessed some discontent with jerome powell during his first term among plenty others. thank you for your time and thank you for joining us. >> thank you for having me. >> before we get to powell can we start with gaetz? what do we think this is about? >> i think he wants to be a disruptor and it's about going after his nemesis inside doj but it is counterproductive to those goals. if gaetz is looking to avoid the ethics report coming out this is a way to ensure it doesn't confirmation hearings because people will look for those reports and subpoena the doj and call some of the victims as witnesses. i think for the effort to try to get recess appointments, i think that has a lot of sympathy because both republicans and democrats have delayed confirmations extensively, but you lose that sympathy when you nominate somebody like gaetz because that will ensure that the republican senate will not recess. they will go to a pro forma session to avoid the possibility of recess appointments. >> that's interesting. i was going to redo this take that said the pick was brilliant be

[applause] >> waiter today, federal reserve chairman jerome powell holds a news conference to discuss interest rates and monetary actions. that will be live on c-span, are free will that you and online at c-span.org. >> the house will the in order. >> this year c-span celebrates 45 years of covering congress like no other. since 1979 we have been your primary source for capitol hill providing balanced unfiltered coverage of government taking you to where the policy is debated and decided with the support of america's cable company. c-span. 45 years and counting. powered by cable. >> we will have more from this forum on education policy and innovation coming up this evening. the conversation will include political strategist and pollster kellyanne conway and senator bill cassidy, the ranking member of the senate education committee. live coverage starts after 6:30 p.m. eastern here on c-span. >> attention middle and high school students across america. it is time to make your voice heard. c-span studentcam contest 2025 is here. this is your chance to create a documenting that can inspi

>> not permitted under the law. >> that was federal reserve chairman jerome powell answering questionsl bank announce another rate cut. donald trump, who appointed powell when he was president in 2017 has repeatedly threatened to fire him. let's bring in co-anchor of cnbc's squawk box and a new york times columnist, ross sorkin and senior business analyst and host of the 11th hour, stephanie ruhle. definitely want to hear from both of you on this. jerome powell. go. >> i think it was very direct and purposeful. both the questions were purposeful. the answers were purposeful and i think in case anyone thinks there's something going on, it's unlikely to go on. and i think what he is effectively saying is you come for me and were going to court over this. i think it was basically if you're reading between the nine what was being said. also it's worth noting -- it's very unlikely in a court case they could win. the different question is, and you heard scott besse and his been speculated as potential treasury secretary -- he's talked about this idea of trying to appoint somebody in advance

the real risk is this re-inflates the economy. >> donald trump has been critical of jerome powell in well had a direct response today when he was asked if he would resign if donald trump asked him to step down. >> some of his advisers have suggested that you should resign. if he asked you to leave, would you go? >> no. >> do you think legally you are not required to leave? >> no. >> put this into context for us. the fed really guards its independence and its rotation -- reputation. >> he is not usually monosyllabic when he is answering questions. that was unusual. he is trying to be extremely clear about what the dead thinks about this issue. he feels strongly that the president does not have the legal ability to demote or remove the fed chair. he is trying to be very upfront about that. there has been history between them of real strife. trump talked about it during his first term. i think it is natural that with his reelection, this is surfacing again. trump has said he is not planning on firing him. i think the fed is trying to shore up its independence. i think that is really what

what we did not expect is what else jerome powell said today.said he would not resign if asked by the president-elect saying that the president-elect cannot remove senior elected officials. welcome everybody i am neil cavuto. that came out of the blue everybody was expecting this cut in interest rates and other interest work. the markets love it but now i am wondering when donald trump and what he makes of this developments from the federal chairman now saying that even if donald trump would ask him to step down he would not. >> hello, neil, we have not heard directly from the president-elect on this just yet. but according to a senior official that spoke with cnn he reportedly would not ask to see an end to step down saying that he would allow him to continue serving through his term through 27 -- 2026. that is what the an end is reporting. the president-elect in that time has been in mar-a-lago working on filling out his administration and first and foremost trying to find a chief of staff. one name that has been floated out there has been for

. >> stocks lower into the close after the fed chair jerome powell said the central bank is? no rush to cut interest rates if economic growth remains strong dow falling 200 points while s&p and nasdaq saw the worst day of november so far. the ten-year yield hitting its highest level in over four months cnbc's steve liesman has more on the key headlines from the fed chair. steve? >> yeah, a lot of action in the two as well. jay powell in dallas today affirming that the fed intends to still reduce rates but throwing doubt on the pace and how far the fed may go here are some headlines pep said the fed is, indeed, headed towards neutral but in no hurry to get there nothing about the u.s. economy screams that the fed ought to be in a hurry, he said. there's uncertainty about where the neutral rate is and fiscal policy he said repeatedly about a series of questions about how the fed could react to potential policies from the trump administration such as tariffs and deportations that some economists think could be inflationary. >> we're still months away from a new administration le

neil: it is a whole new dynamic, donald trump returning to the white house, no fan of jerome powell and you wonder, almost any move on the part of powell will get attention more than the fed wants. >> he was a fan because he did appoint him to the position. it took a new tone and that's the focus of the press conference, hijacked with talk about the direction of rate cuts. and i don't think so. things have been stabilized, goes into the second point. will the incoming president put pressure on him to do so? and her that will hijack what we want to focus on. it's an interesting press conference, will smoothly focus on and give us a hint about another 25 basis points. stuart: the key inflation gauge, donald trump said what is wrong with the president weighing in on what the fed should or shouldn't do, i would imagine donald trump is going to be a very different president when it comes to the fed. i wonder how the markets take that. >> trump breaking dogma. we had presidents that have been more vocal on what they believe the fed should or shouldn't do. it is interesting we've had reports,

>>> plus, trump clashed with federal reserve chair jerome powell in the past.was asked if he would step down and leave his position? you're watching "jose diaz-balart reports" on msnbc. tn you're watching "jose diaz-balart reports" on msnbc. u. you can treat it anytime, anywhere, without worrying where you are, or if it's too late. don't take with strong cyp3a4 inhibitors. allergic reactions to ubrelvy can happen. most common side effects were nausea and sleepiness. migraine pain relief starts with you. ask about ubrelvy. learn how abbvie could help you save. ♪ ask about ubrelvy. like a relentless weed, moderate to severe ulcerative colitis symptoms can keep coming back. start to break away from uc with tremfya... with rapid relief at 4 weeks. tremfya blocks a key source of inflammation. at one year, many people experienced remission... and some saw 100% visible healing of their intestinal lining. serious allergic reactions and increased risk of infections may occur. before treatment, your doctor should check you for infections and tb. tell your doctor if you h

but is fed chair, jerome powell, on a collision course with president—elect donald trump?ure—perfect and completely artificial. live from london, this is business today, i'm lukwesa burak. the federal reserve cut its key lending rate by a quarter of a point, in its first meeting since donald trump's historic election victory. while trump's re—election makes the future path of interest rates much murkier, one thing is clear — federal reserve chair, jerome powell, has no plans to step down.

jerome powell refused to talk about politics and about future policies. that's a good decision of course because we don't know enough yet. we know he is staying in the chair and he made that clear when he was asked this week. >> some of the president-elect' 's advisers suggested you should resign. if he asked you to leave, would you go? >> no. >> can you follow up? do you think legally you are not required to leave? >> no. >> yep. that was a mic drop. president-elect trump likes lower rates. he made that clear. borrowers like lower rates. it makes credit cards cheaper. fed is trying to cut rates until perhaps policy forces them to do otherwise. it's going to be an interesting year. >>> nothing unusual about pentagon officials but they're preparing in case the next president gives them an order they consider illegal. that story when we come back. california governor preparing for the incoming administration. tensions over middle east flare in the streets of amsterdam. officials describe antisemetic attacks. and we have more on the investigation underway no

bank doesn't need to rush to lower interest rates — that according to the federal reserve chair jerome powelled event, he said the us economy has been "remarkably good" and he sees inflation on a sometimes bumpy path to what the 2% target. us central bankers began lowering borrowing costs back in september with a 0.5% cut and then lowered the policy raped again by 0.25% last week and they signalled a willingness to cut rates further, so long as inflation continues to slow. —— policy rate. data out earlier this week shows a measure of us inflation remained steady in october, so—called core consumer price index which excludes food and energy costs, included 0.3% for the third month. he did not comment on the possibility of a cut in the december meeting though markets have priced in about a 70% probability of a 0.25% reduction. and the future path of monetary policy could be even more uncertain next year when president trump fulfils his promises of deploying tarriffs. disney's quarterly earnings came in above estimates, led largely by a 14% jump in revenue at its entertainment division. the segm

announcer: on thursday, jerome powell holds a news conference to talk about interest rates and monetary policy actions. that will be live at 2:30 p.m. eastern c-span, c-span now our free mobile video app, and online at c-span.org. announcer: discover the heartbeat of democracy with c-span voices 2024 as we engage voters ahead of election day asking what are your thoughts on this election cycle. >> i'm excited about it. i love seeing the passion come out of americans and their true love for this country. it is one of the most passionate things that people all over the world hear, respect and feel. >> i would say it is going to be a game changer for the united states for sure. i think either way, the united states is going to change, no matter which way it goes. >> i think it's divisive and it doesn't represent our united states very well. >> i think that we are at a pivotal moment in america where we have to make a decision to speak up and speak out. this is the time to do it. >> i feel like it is very important. i feel like our country needs a lot of healing and i hope that the people a

federal reserve chairman jerome powell speaking on interest rates in coming months. economy headed next in our money watch report. >>> tony award winning leslie odom, jr set to delight the area with holiday classics. we'll be chatting with him live, next. >>> a live look at downtown san jose before break. the holiday season is already getting started with one of the most festive events. we'll talk about that >>> topping money watch, filing a false report after a robo taxi hit and dragged a pedestrian last year. the company will pay a half million dollar settlement. that was a factor in pulling all of the self driving cars off the road. it will comply with requirements of the settlement with justice department and it is committed to transparency. it agreed to pay the injured woman more than $8 million. >>> more interest rate cuts by fed appear likely. jerome powell says this can happen during the next few months and there is a big if. if current economic trends continue. those include slowing of the job market and decreasing inflation. both are at least partly linked

. >> jerome powell was asked a lot of questions about donald trump. >> he tried really hard to stay out of politics. he was asked about the impact of the trump policies and what that could mean to interest rates. remember, mainstream economists have warned the trump economic agenda could be inflationary, perhaps a very inflationary , mass deportations, tax cuts and very aggressive trade agenda. trump has called for 10 to 20% tariffs on all of u.s. imports, 60% tariffs on china. there is some research that this could cost the average american family $2600 a year and extra cost. powell would not take the bait , he stressed again and again that the fed would wait until policies are implemented. at one point he said, we do not guess, we do not speculate and we do not assume. that make sense, the fed does not know what the president-elect will do, i don't think the president-elect knows either because he just got elected. the former trump press secretary was asked yesterday about this and he said he thinks trump will be very careful not to reignite inflation one other point is powell was ask

fed chair jerome powell said he would not resign if president elect trump asked him to. >> the man charged with killing four university of idaho students has begun fighting for his life. months before testimony in his case is set to begin. here's abc's mola lenghi. >> accused killer brian kohberger back in court. his lawyers asking the judge to take the death penalty off the table. if he's convicted for the grisly murders of four college students at the university of idaho. >> when somebody sits on death row and there's no real means of executing them, that is dehumanizing to that person. >> idaho can execute by firing squad when lethal injection is not possible. kohberger's defense pointing to the difficulty of obtaining lethal injection drugs along with a recent botched execution in the state when prison staff could not find an inmate's vein. if kohberger ever reached death row, his team argued, not knowing the means of his execution would be inhumane. >> it is anxiety. it is fear. it is the not knowing. >> the judge today appeared to push back against kohberger's arguments, saying idaho

turns the us, where jerome taylor -- l us, wherejerome taylor —— jerome powell is sounding optimisticnableness of the economy, than policymakers can now take the time when it comes to lowering interest rates. a north america business correspondent has the details added dallas federal reserve event. , added dallas federal reserve event. ., . ., event. robust economic growth, a solid job _ event. robust economic growth, a solid job market, _ event. robust economic growth, a solid job market, and - a solid job market, and inflation that is trending towards target means the us central bank doesn't need to rush to lower interest rates. that is according to federal reserve chairjerome powell. speaking at a dalysford event he said us economy has been "remarkably good" and he sees inflation on is imposed on the above was the 2% target. us central bank is began lowering borrowing costs back in september with a .5 percentage point cut and lowered the policy rate by nehra 0.25 last week. they signalled a willingness to cut rates further so long as inflation continues to slow. data out earlier th

. >> an ideal world the fed was supposed to be independent but anybody who thinks jerome powell has noteen influenced by the by data administration is fooling themselves. i don't think that president trump should be bullying per se, nor do i actually think he is and i think president trump has the right to do is point out the mistakes that i think he's made and i think jerome powell has made some incredible mistakes and of trump selected he's going to have to justify whether or not he should stay in the administration and i think that might not be an easy thing to do. >> i said the more power trump gets the higher stock prices go, give me 20 seconds. do you agree. >> i think president trump has the right agenda for the stock market especially with the tax cut. i think if trump won it would be a win for the market. thank you for joining us, laura is looking at the movers, start with talon energy. >> is a nuclear stock in a federal commission limited how much power amazon could use from a nuclear reactor in pennsylvania after the utility objected, gets kind of in the weeds but basically a

it is jerome powell. focus has been fighting the biggest spike in inflation that most of us have seen. even though prices are still high he largely succeeded and better than any other developed country in the world that does not mean he is popular for those around trump. here is what he had to say yesterday when he was asked about his future. >> some of the president-elect advisories suggest you should resign. if he asked you to leave would you go? >> no. >> can you follow up on it? do you think that legally you are not required to leave? >> no. >> pretty clear what he thinks and what the actual law says. jerome powell, standing up for the feds independence wins my mvp. my real mvps are this squad. thank you all so, so much, quite a week and it was a pleasure to end it with you. remember, you can catch the nightcap again on saturdays at 11:00 p.m. eastern right here but for now we are all signing off. from all of our colleagues at the networks of nbc news thanks for staying up late. i will see you on mond

look, did you vote for jerome powell? he is not an elected official. he has to be accountable to someone, right? the fact that he thinks he can be a dictator i think is really outrageous. i understand people on the other side will say we want the fed to be politically independent and there is a lot to truth to that, too. this is a fed chairman who has made a lot of major mistakes in his tenure. he is the one who almost caused the economy to go into a recession in 2018 with massive rate hikes and donald trump was very angry about that. then, of course, he was the fed chairman the highest inflation rate in 40 years. he doesn't have a particularly impressive record. now, is he going to be reappointed? i can almost guarantee you having talked to donald trump about this that he is not going to be reappointed. the real issue is if trump could get rid of him before his term is over. i don't know whether he would have the right to do that. i think he should have the right to replace the fed chair. >> bill: trump loved to bang on the feds and see how it goes th

jerome powell said he will not quit, and it sounds like trump doesn't want that fight, but inflationll have necessarily in erie, pennsylvania, but it's something people like you had in the white house. it's hard to fight and we haven't had it in 40 years. it almost wrecked japan. japan was going to be the most important country in the world and it's not now. >> let me read the latest reporting about the fight with jerome powell because i think people were watching the national security agencies and donald trump has sort of successfully steam rolled across all those norms. i think this fight with powell may actually be the new norm-busting question or hot spot that we're watching. >> right. >> this is "the wall street journal's" reporting, when asked if he would resign, powell offered a one-word reply, quote, no. powell, an executive with a law degree was pressed to explain his rationale. he delivered another response, quote, not permitted under the law. his unflinching lay bare the prospect that any attempt to force powell to leave before his term ends in 2026 will likely be resolved

still ahead, fed chair jerome powell opens up about the state of the economy and what may and may not happen under a second. trump presidency. >> and a wildfire in southern california forces more people out of their homes and crews race around the clock to keep flames from spreading to more built up areas. >> and we are tracking the weather. it has mellowed out around here. the winds have died down the red flag warning is gone. the weekend though, cloud, maybe a shower back here. >> with that and a quick check of that thursday evening commute as we give you a live look out at the lower east shore, as seen from our emeryville camera. bumper to bumper in both directions of 80 rolling through berkeley. you're watching ktvu news ♪ stay ahead of your child's moderate-to-severe eczema. and they can show off clearer skin and less itch with dupixent, the #1 prescribed biologic by dermatologists and allergists, that helps heal your child's skin from within. serious allergic reactions can occur that can be severe. tell your doctor about new or worsening eye problems such as eye pain or vision c

sit jerome powell, chair of the federal reserve.important jobs in this country, and for the last few years, his focus has been fighting the biggest spike in inflation most of us have seen in our lifetime. today even though prices are still high, he has largely succeeded, and he's done it better than any other developed country in the world. but that does not mean he is popular with some of those around trump. here's what he had to sayed when he was asked about his future. >> some of the president-elect's advisors have suggested that you should resign. if he asked you to leave, would you go? >> no. >> could you follow up on -- do you think legally you're not required to leave? >> no. >> pretty clear what he thinks and what the actual law says. jerome powell standing up for the fed's independence wins my mvp tonight. my real mvps are this squad, thank you all so, so much. it has been quite a week. it was a pleasure to end it with you. and remember, you can catch the nightcap again on saturdays at 11:00 p.m. eastern here on msnbc. for

chairman jerome powell says it's because of lower prices. inflation has eased significantly over the past 2 years. and he says the fed is easing interest rates to make sure unemployment remains stable. unemployment in october was 4.1% higher than last year's 3.8%. we don't want the labor market to to soften much from here. even though the fed is trying to make it cheaper to borrow money. freddie mac says interest rates for mortgages have increased for 6 straight weeks. the average 30 year mortgage is 6.7 9%. analysts say it's a sign investors are worried about increasing inflation and more government debt in a second trump term. but powell says the federal reserve's decision making is not based on the results of the election. it's such an early stage. we don't know what the policies president-elect, donald trump appointed jerome powell, but in his first term, trump publicly attacked pow and the fed's decision making the federal reserve by law is supposed to be independent from the white house. some of the president elect's advisers have sugg

jerome powell speaks on thursday. i think there's a chance that the fed sort of disappoints on the rate cut cycle. with that said, you can put a little disappointment in the bitcoin trade. >> i agree with you on the rate cut cycle, and another environment that would put a little, you know, that fiscal -- that monetary discipline would be sort of item personing for bitcoin. however, i do think that given the very dramatic change until what -- regulatory environment for crypto and other currencies that this sort of unallocated resources that are sitting on the sidelines that want to, need to, get into bitcoin now, it takes awhile to get that much money in, and, i mean, clearly, it's started in a huge way, but if you think about when the -- when the efts, how much money came in and it took, i don't know, a month, at least, and then you look at the -- even dogecoin -- >> what is that? >> it's nothing. >> the meme coin. i'm sorry. >> shiba sa inu coin. >> that tripled in the last week or so. the euphoria is there for so. b

. >> i'm trevor shirley in washington, federal reserve chairman jerome powell says he will not step downesident elect trump takes office and says the incoming president doesn't have the ability to fire him. got the latest on that coming up just ahead. thanks so much for joining us here on kron. 4 news at noon. i'm stephanie lin. >> daniel lurie has been elected the next mayor of san francisco. and today he spoke publicly for the first time since the election was called. >> pope was rob nesbitt was at that speech in chinatown. me joins us live now with what lurie had to say. rob. >> stephanie, a large crowd of supporters gathered here in saint marys square for danielle lawrie speech. they thinned out now. that speech was about an hour ago and it is the first time that we saw his name next to the words, mayor elect members of the community city leaders and those who helped lori campaign. listen to what he had to say. talking about the promises of change and hope for san francisco that he has reiterated his commitment to public safety. police patrols on foot in addressing the rise in homele

liz: well, federal reserve chair jerome powell just finishing his november if news conference, one of the shortest in memory, where the fed unanimously do did vote to to cut rates by a quarter of a point. powell stressed during this q and ark, and he took the fewest questions i can remember concerw about you with, andy, but really there were very few. this is ending 12 the minutes after the hour. reusually goes until about 17 -- he usually goes until about 17 minutes past the hour. he did stress the economy is incredibly strong, and the markets did hold steady throughout the q&a with the news reporters here. you look at the dow jones industrials, any gain for the dow, any gain for the s&p s&p or the nasdaq would be another record, and we've got it. you've got the dow jones industrials up, the s&p gaining 47 points. take a look at the nasdaq. the nasdaq very close if not at session high toes of 32 the 89 points -- 32 the 89 at 19,272. russell 2000 has been jerking above and below the flatline here. at moment it's down just a point. so it's the treasury yields. if anything moved, it was

in exactly 30 days, jerome powell and company will begin deliberating their last interest rate move ofmber meeting. powell has so far succeeded in orchestrating a soft landing as he and the fed quelled inflation. even though president-elect donald trump appointed powell back in 2017 durc his first administering -- during his first administering, a year later he floated the idea of firing chair jay powell after the fed hiked interest rates. look what happened back then. in december of 2018, the day before christmas, the markets took a dive of more than 2% on the s&p on speculation then-president trump was going to fire powell over the fed chair's campaign to tighten rates. well, to soothe jittery investors, treasury secretary stephen mnuchin took an unusual move of tweeting a hail mary on his own x account saying trump never really suggested firing the fed chair. and you can see the day after christmas when the markets reopened, the s&p spiked 5%. so let's be career here -- clear here, the law does not allow a president to remove a fed chair unless it's the for cause, but what are the c

roger ferguson, thank you. >>> and we are moments away from jerome powell's coenmmts.will return to "power lunch" and we will see him coming out in about seven minutes. advances find talented candidates, so you can connect with them fast. visit indeed.com/hire (vo) this season, try opendoor's turducken of offers. at the center is our all-cash offer. so you can connect with them fast. then comes the option to list for more. all wrapped in the certainty of a simple sale. this holiday, sell your home your way with opendoor. this is our future, ma. godaddy airo. creates a logo, website, even social posts... in minutes! -how? -a.i. (impressed) ay i like it! who wants to come see the future?! get your business online in minutes with godaddy airo (vo) sail through the heart of historic cities get your business online in minutes and unforgettable scenery with viking. unpack once and get closer to iconic landmarks, local life and cultural treasures. because when you experience europe on a viking longship, you'll spend less time getting there and more time being there. viking. e

secretary with the understanding trump could choose him to lead the federal reserve when chairman jerome powell'sends in 2026. sources close to the process say the president-elect is trying to find a treasury nominee who can reassure financial markets and also support his plans for tariffs. apollo executive mard rowan, bill hagerty and investor scott bessent have also been in the mix. >> donald trump is the most sophisticated leader on economics that i have met and he is also the most open-minded. >> when asked if he would consider serving as secretary gave answer politicians often give keep his head down and keep serving the measure down in whatever role he may take. bret? >> bret: a lot of news breaks in this show so we are going to wait and see if that announcement comes during the 6:00 hour here. meantime, rich, "the washington post" is reporting the president-elect trump plans once he is inaugurated to fire special counsel jack smith's entire team. what about that? >> yeah, you know, bret, that just hit just before the show started. and according to that "the washington post" report going to

. >> john: a lot of speculation as to whether or not trump with the jerome powell in place at the fedhe takes office, seeing some reporting that he will leave him there, but i guess the final decision likely hasn't been made, but with inflation on the way down and interest rates on the way down, maybe the best change is no change. >> sandra: can we pop the dow up real quick? it was about flat, look at that. what's interesting, hold on, is this still reacting? because the s&p 500 says it's up 36 points. watch this for a second. okay. >> john: i would imagine since the betting was 99% that there was going to be a quarter-point rate cut that that's already factored into what we are seeing. >> sandra: okay, all right. anyway, yeah, looks like the dow is not really reacting, so maybe wanted more, maybe it had already priced this in, john, and some sometimes that's just the case. >> john: we are going to be talking more about all of this and the way ahead in terms of the economy, interest rates, tax cuts, with ken coleman from the ramsey show. that's just ahead. >> sandra: i love it because

first, just that back and forth on jerome powell's job security. how significant is that?p was the one who appointed him. >> it was the no heard around the world, and he said it twice, not permitted under law, and he stopped and said it again. so just a message that over here at the fed, the fed is independent, it is independent of the white house, and it is trying to get inflation under control without hurting the overall economy by moving interest rates. the fed chief is saying, we're going to continue to do that work. >> so i'm curious, professor, to get your take here. because the federal reserve isn't supposed to be political, but trump has said he wants influence on interest rates. if trump tries to interfere in fed decisions or if trump asks for powell's resignation and he refuses, what happens? >> the legal advice seems to be that powell gets to stay. look, this is actually one of the most important issues for monetary policy. we tend to obsess about the blips, the little ups and downs, the quarter of a percentage point here or there. but what really matters is mak

chair of the federal reserve, with jerome powell serving out a second four-year term, saying mr. trump is not legally permitted to fire him. if he asked you to leave, would you go? >> no. >> can you follow up on his, do you think that legally you're not required to leave? >> no. >> our thanks to hallie for that report. >>> president biden addressed the nation from the rose garden about the peaceful transfer of power. >> setbacks are unavoidable, but giving up is unforgivable. we all get knocked down. but the measure of our character as my dad would say is how quickly we get back up. remember, a defeat does not mean we are defeated. yesterday i spoke with president-elect trump to congratulate him on his victory. and i assured him i'd direct my entire administration to work with his team to ensure a peaceful and orderly transition. >> a white house official says president biden will attend trump's inauguration and that the two are expected to meet in the oval office in the near future. >>> as donald trump prepares his return to the white house, vladimir putin is reacting to the u.s

." >> reporter: stocks closed lower thursday after federal reserve chair jerome powell poured cold waterrs' hopes for another interest rate cut this year. the dow lost 207 points. the nasdaq, 123. the s&p was down 36. >>> an urgent warning about portable adult bed rails. medical king of brooklyn is recalling about 220,000 devices after the death of one person. the u.s. consumer product safety commission says adult bed rails are to blame for 18 deaths since 2021. the agency says people can get trapped between the rail and the mattress and suffocate. >>> plans for a merger of two high-end fashion brands have fallen apart. tapestry, the owner of coach and kate spade, and capri holdings, which owns versace and michael kors, called off their $8 billion deal thursday after the federal trade commission sued to block it over antitrust concerns. >>> and if you use x, formerly known as twitter, you may have noticed a number of high-profile accounts abandoning the platform. that's all because of a new terms of service document that takes effect today. that would give its owner, elon musk, the right