"I worry these attacks are battering this institution and putting at risk the things that really matter to the public. Powell's decision to stay denies President Trump a chance to fill a seat on the central bank's governing board."
"It probably means it will take Warsh a little bit longer to build the consensus he is trying to build. Powell's continuation as a Fed governor may last until January 2028."
Jerome Powell announced plans to stay on the U.S. Federal Reserve board after his chair term ends, citing unprecedented legal attacks threatening the institution's independence. His decision prevents President Trump from appointing a new member to the board. Powell's continuation as a governor may last until January 2028. The Senate Banking Committee has approved Trump's appointee, Kevin Warsh, as Powell's successor. Powell's presence could complicate Warsh's efforts to implement the rate cuts Trump desires, potentially delaying consensus-building.
Read at www.cbc.ca
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