Federal Reserve Chair Jerome Powell on Wednesday pledged not to leave the central bank until a criminal investigation of him by the Justice Department is resolved, a prospect likely to stymie President Donald Trump’s hopes of soon installing a central banker sympathetic to his demands for lower interest rates.
Powell also said he plans to remain at the helm of the Fed even after his leadership term ends until his nominated successor – Kevin Warsh – is confirmed by the Senate, a process already effectively placed in limbo by a top Republican senator’s vow to block the nomination as long as federal prosecutor Jeanine Pirro’s probe of Powell continues.
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Federal Reserve Chair Jerome Powell on Wednesday pledged not to leave the central bank until a criminal investigation of him by the Justice Department is resolved, a prospect likely to stymie President Donald Trump’s hopes of soon installing a central banker sympathetic to his demands for lower interest rates.
Powell also said he plans to remain at the helm of the Fed even after his leadership term ends until his nominated successor – Kevin Warsh – is confirmed by the Senate, a process already effectively placed in limbo by a top Republican senator’s vow to block the nomination as long as federal prosecutor Jeanine Pirro’s probe of Powell continues.
He can’t even bully the Fed effectively 🙃