US Edition
Jerome Powell says he will continue to serve as a Fed governor even after chairmanship ends
Powell said legal pressure from the Trump administration is forcing him to stay on the board while the Fed’s independence remains under threat.
- On Wednesday, Federal Reserve Chair Jerome Powell announced he will remain on the Board of Governors indefinitely after his chairmanship ends May 15, citing an ongoing probe into the central bank's headquarters renovation.
- Powell, who has served eight years, is stepping down from the top post following an unusually turbulent period marked by frequent political attacks and a now-dropped Justice Department investigation.
- Powell emphasized his commitment to the institution, stating these legal actions are "unprecedented in our 113 year history," as he stressed the need to protect monetary policy from political factors.
- The Senate Banking Committee voted to advance Kevin Warsh as the new chair Wednesday, though critics like Sen. Elizabeth Warren worry he may act as a "sock puppet" for the President on rate cuts.
- With 12 voting members on the Board, Powell's continued presence could serve as a check on political pressure, ensuring rate decisions require majority consensus rather than unilateral action.
206 Articles
206 Articles
Powell to stay at Fed after chairmanship ends
What happenedFederal Reserve Chair Jerome Powell said Wednesday he will remain on the Fed Board of Governors “for a period of time to be determined” after his term as chair expires May 15. His announcement came at the end of a two-day policy meeting in which the Fed voted to keep rates unchanged, and shortly after the Senate Banking Committee voted along party lines to advance Kevin Warsh’s nomination to succeed Powell. Who said whatPowell’s “de…
Fed chair Jerome Powell says he will stay on central bank's board after term expires next month
Fed chair Jerome Powell says he will stay on central bank's board after term expires next month The Fed held interest rates steady on Wednesday. Federal Reserve Chair Jerome Powell on Wednesday said he would stay on at the central bank's board of governors after his term expires next month as an…
‘Integrity is priceless’: Powell closes out eight years at the helm of the Fed
After eight years spanning three administrations, 66 interest-rate-setting meetings, a pandemic, a criminal probe and countless attacks from the Trump administration, Jerome Powell capped his final policy meeting as chair of the Federal Reserve on Wednesday.
Coverage Details
Bias Distribution
- 48% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
