Federal Reserve Chair Jerome H. Powell held a news conference Thursday afternoon after the central bank cut interest rates by a quarter of a percentage point.
Policymakers took note of a job market that has “generally eased” while inflation continues to move towards the U.S. central bank’s 2% target flagged as potentially inflationary.
When asked if Donald Trump had the power to demote or fire him now that he's headed to the White House for a second term as president, Powell said it was "not permitted under the law."
Risks to the job market and inflation were “roughly in balance,” the Fed said, repeating language from the statement released after its September meeting.
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