"It just boggles my mind that he's staying on. He was referring to Powell's decision to remain on the Fed's seven-member board of governors, even after Kevin Warsh replaced him as the Fed's new boss. ABC News called it an unusual move that hasn't happened since 1948, but Powell told The Wall Street Journal earlier this month he had no choice but to stay because it was necessary to fight President Donald Trump's legal challenges. Powell could remain on the board through 2028."
"First of all, Jay Powell is not a martyr for his years-long feud with Trump. The president has routinely bashed Powell for not moving fast enough in his view to drop rates, with Trump branding Powell with the nickname Too Late because of it. Trump has also ripped Powell for the cost of the Fed Building renovation, saying it ballooned to $4 billion or about $1.5 billion more than projected. The Justice Department launched a criminal investigation into Powell weeks later; Powell said he was being targeted as a consequence for not adhering to the president's demands to lower rates."
"The DOJ dropped the probe in April, but U.S. Attorney for the District of Columbia Jeanine Pirro said recently she had not completely closed the book on investigating Powell further. Kudlow on Sunday suggested don't even give [Powell] a parking spot, or if you do, make it the worst parking spot in the entire building as payback for his renovation project. The veteran anchor also reiterated he hated that Powell will remain a member of the Fed board. He's taking a vote for a potential Trump voter away by"
Jerome Powell is staying on the Federal Reserve’s seven-member board of governors after his chair term ends, a move described as rare since 1948. Kevin Warsh replaced him as chair, but Powell can remain on the board through 2028. Powell said he had no choice but to stay to help fight President Donald Trump’s legal challenges. Larry Kudlow criticized the decision, calling it stupid and saying Powell is not a martyr for a long-running feud with Trump. Trump has attacked Powell over interest-rate timing, Fed building renovation costs, and a criminal investigation that was later dropped. Kudlow suggested punitive treatment for Powell’s parking spot and argued Powell’s continued role removes a vote from potential Trump supporters.
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