"Powell stated, "Legal attacks on the Fed threaten its ability to set policy free of political pressure," emphasizing the importance of the Fed's independence."
"By remaining on the Board of Governors, Powell extends his influence over monetary policy, which is crucial during a time of economic uncertainty."
Jerome Powell announced he will stay on the Federal Reserve Board of Governors after his term as chairman ends on May 15. This decision prevents President Donald Trump from filling an immediate vacancy on the board. Powell expressed concerns about legal challenges to the Fed that could undermine its independence in setting policy. Kevin Warsh, Powell's successor, is undergoing Senate confirmation, a process that typically sees Fed chairs leave the board after their term ends.
Read at The American Conservative
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