- Fed Chair Jerome Powell on Wednesday said he will stay on the Board of Governors for an indefinite period while a probe into the renovation of the central bank’s headquarters continues.
- The statement resolves for the moment a key question that hovered over the Federal Open Market Committee meeting.
- “The things that have happened really in the last three months have, I think, left me no choice but to stay until I see them through at least that long,” Powell said.
Federal Reserve Chair Jerome Powell on Wednesday said he will stay on the Board of Governors for an indefinite period while a probe into the renovation of the central bank’s headquarters continues.
“I’ve said that I will not leave the board until this investigation is well and truly over with transparency and finality, and I stand by that. I’m encouraged by recent developments, and I’m watching the remaining steps in this process carefully,” Powell said near the beginning of his post-meeting news conference.
“My decisions on these matters will continue to be guided entirely by what I believe is in the best interest of the institution and the people we serve after my term as chair ends on May 15, and will continue to serve as a governor for a period of time to be determined,” he added.
THANK YOU CHAIR POWELL !!! So glad you are staying on !!
Jerome Powell says he will continue to serve as a Fed governor, calls Trump criticism ‘unprecedented’
byu/TACO_Orange_3098 inStockMarket
Posted by TACO_Orange_3098
9 Comments
Mr. Unprecedent said what about Mr. Powell?
“I ain’t fackin leaving” ~JPowell
How many have stepped down after serving as the chair?
I did a google search:
**Most Federal Reserve chairs leave the Board of Governors immediately when their chair term ends**, making the move to depart rare. Historically, only a few, such as Marriner Eccles (1948) and Arthur Burns (1978), remained as governors briefly afterward. Recent chairs—Janet Yellen, Ben Bernanke, and Paul Volcker—all resigned from the board simultaneously with their chair term
So, would it be Trump or Powell who’s doing something unprecedented.
JPow 2028
Trump will bring charges
So exactly one grownup in the entire administration…
Honestly if Trump had just left Powell alone and waited then Powell would have left on his own and then Trump would have gotten what he wanted anyway.
It’s truly fascinating to see someone get in their own way so many times because they just couldn’t shut up.
Hero
He’s kind of a hero. Thank god for Powell.