U.S. Fed chair says will not leave early if asked by Trump

U.S. Federal Reserve Chair Jerome Powell said Thursday that he would not resign if asked to leave early by President-elect Donald Trump.

Speaking at a press conference after unveiling a quarter point interest rate cut, Powell -- whose term as Fed chair ends in 2026 -- added that firing any of the Fed's seven governors was also "not permitted under the law."

His comments underscore the delicate balancing act policymakers may have to play in the next Trump administration, given the US president-elect's recent criticism of the Fed.