Fed Chair Powell says he won't resign if Trump asks him to step down
Fed Chair Jerome Powell responded with a one-word answer when asked if he'd step down if asked by President-elect Donald Trump.
Aimee Picchi is associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has been published by national news outlets including USA Today and Consumer Reports. Aimee frequently writes about retirement, and has been a National Press Foundation fellow for reporting on retirement and Columbia University's Age Boom Academy. She's also the editor of the Institutional Investor book "Cultivating the Affluent II," with noted wealth consultant Russ Alan Prince.
Fed Chair Jerome Powell responded with a one-word answer when asked if he'd step down if asked by President-elect Donald Trump.
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The Federal Reserve said it is cutting rates by 0.25 percentage points, its second rate cut of the year.
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Tim Walz, Kamala Harris' vice presidential running mate, earns six figures as governor of Minnesota. But his overall wealth is far more modest.
JD Vance, former President Trump's running mate, has come a long way from his hardscrabble childhood of "Hillbilly Elegy."
Trump Media & Technology Group's stock, which trades under DJT, is plunging just days before the November 5 election.
The personal consumption expenditures (PCE) price index eased to a 2.1% annual rate in September, close to the Fed's target.
Consumer confidence soared in October, signaling that Americans may continue to open their wallets.
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