Powell Advises Successor to Stay Away from Politics

Odaily News Fed Chair Powell responded on Wednesday to a question about what he would say to his successor. He indicated he would tell the next Fed Chair not to get involved in political matters. "Stay out of elected politics, don't get involved in elected politics," Powell said during a press conference. He added, "Our window into democratic accountability is Congress. Going to Congress to talk to the people is not a passive burden, it's an active regular obligation. If you want democratic legitimacy, you have to earn it through interaction with our elected overseers." (Jin10)