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Powell says he's staying on the Fed's board, impacting Trump and successor Kevin Warsh
Jerome Powell said Wednesday he plans to remain on the board of the Federal Reserve after his term as chair ends next month “for a period of time, to be determined,” saying the “unprecedented” legal attacks by the Trump administration have put the independence of the nation's central bank at risk.“I worry these attacks are battering this institution and putting at risk the things that really matter to the public,” Powell said in remarks at a press conference after the Fed announced its decision
Jerome Powell said Wednesday he plans to remain on the board of the Federal Reserve after his term as chair ends next month “for a period of time, to be determined,” saying the “unprecedented” legal attacks by the Trump administration have put the independence of the nation's central bank at risk.“I worry these attacks are battering this institution and putting at risk the things that really matter to the public,” Powell said in remarks at a press conference after the Fed announced its decision to keep its benchmark interest rate unchanged.Powell's decision to stay — the first time a Fed chair will remain on the board as a governor since 1948 — denies President Donald Trump a chance to fill a seat on the central bank's seven-member governing board with his own appointee.