Fed chair Jerome Powell says he will stay on as Governor after term amid legal pressure
Fed Chair Jerome Powell will remain a Governor due to legal pressure and concerns for the institution's independence.Summary
Federal Reserve Chair Jerome Powell announced he will continue to serve as a Governor on the central bank's board after his term concludes, a decision influenced by ongoing legal scrutiny and political tensions. Powell expressed concern that these attacks could undermine the institution's ability to conduct monetary policy free from political considerations. Despite his initial plans to step down and maintain a low profile, he stated he felt he had "no choice" but to stay. This decision comes as the Fed held interest rates steady, though some governors dissented, advocating for a more hawkish stance. The article also touches on market reactions, including a dip in Bitcoin's price, and anticipates potential policy shifts, possibly under a new leader like Kevin Warsh, who is expected to lead the Fed's June meeting.
(Source：CoinDesk)