Fed's Mouthpiece: Powell Restricts Trump's "Room for Maneuver" at the Fed

Odaily News: "Fed's Mouthpiece" Nick Timiraos stated that Federal Reserve Chairman Jerome Powell indicated he would continue to serve as Fed Chair if his successor is not confirmed before his term ends on May 15th. This is his most direct statement to date regarding the upcoming leadership transition at the Fed. Powell further stated that he would not leave the Federal Reserve Board as long as the Justice Department's investigation into him remains ongoing. Powell mentioned that he has not yet decided whether he would continue to serve as a Fed Governor if the investigation concludes and a successor takes over as Chair. It is confirmed that after Powell's term as Chair ends, he can serve as a Fed Governor until 2028. Powell's decision significantly impacts Trump's ability to reshape the Fed's structure. If Powell remains on the Board, Trump would lose a seat he could have personally appointed. Currently, three of the seven members on the Federal Reserve Board were appointed by Trump.