Powell stays on Fed board after term ends, preventing Trump appointment
Key takeaways
- US Federal Reserve Chair Jerome Powell on Wednesday urged central bank independence as he nears the end of his term on May 15.
- Powell's chairman term ends on May 15, and at his last policy press conference as chief, he announced that he would continue serving as a Fed governor for some time -- even after vacating the top job.
- The decision swiftly drew ire from President Donald Trump, who charged that he was only staying as he "can't get a job anywhere else."
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US Federal Reserve Chair Jerome Powell on Wednesday urged central bank independence as he nears the end of his term on May 15. He said he would remain a Fed governor, drawing criticism from President Donald Trump, who mocked the decision.
By: FRANCE 24 © France 24 US Federal Reserve Chair Jerome Powell made a fervent appeal Wednesday for central bank independence, as he prepares to cap an eight-year term at its helm marked by insults and legal action under the Trump administration.
Powell's chairman term ends on May 15, and at his last policy press conference as chief, he announced that he would continue serving as a Fed governor for some time -- even after vacating the top job.