The pace of Fed rate hikes and the lowering of the balance sheet, which tends to put upward pressure on interest rates, had both been concerns of investors in recent months. Asked if he would resign if Trump asked him to do so, Powell responded with a short "no." While Trump has sent out a number of tweets criticizing Powell and calling the Fed his biggest threat, Powell said that he had not received any direct pressure from the White House. Asked if he had had any face-to-face meetings with Trump, Powell said he had not although he said previous Fed leaders have had discussions from time to time with previous presidents. Asked if any future meeting with Trump was scheduled, Powell said, "I have no news on that.

Source: CBC News January 04, 2019 16:04 UTC