Federal Reserve Chair Jerome Powell will remain as a Fed governor after his term ends, preventing a Trump appointment.
Federal Reserve Chair Jerome Powell announced on Wednesday that he will stay on the Fed board as a governor after his term concludes on May 15, blocking a potential appointment by former President Donald Trump. [source]
During his announcement, Powell stressed the importance of central bank independence. His decision to remain on the board drew criticism from Trump, who mocked the move. [source]
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"Central bank independence is crucial," said Jerome Powell.
Sources
- https://www.france24.com/en/economy/20260430-powell-stays-on-fed-board-after-term-ends-preventing-trump-appointment — Powell's decision to remain on the Fed board and Trump's reaction