{"id":417735,"date":"2026-04-30T04:13:09","date_gmt":"2026-04-30T04:13:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/417735\/"},"modified":"2026-04-30T04:13:09","modified_gmt":"2026-04-30T04:13:09","slug":"powell-to-remain-on-fed-board-after-term-ends-preventing-trump-appointment","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/417735\/","title":{"rendered":"Powell to remain on Fed board after term ends, preventing Trump appointment"},"content":{"rendered":"\n

US Federal Reserve<\/a> Chair Jerome\u00a0Powell\u00a0<\/a>made a fervent appeal Wednesday for central bank independence<\/a>, as he prepares to cap an eight-year term at its helm marked by insults and legal action under the Trump administration.<\/p>\n

Powell’s chairman term ends on May 15, and at his last policy press conference as chief, he announced that he would continue serving as a Fed governor for some time — even after vacating the top job.<\/p>\n

The decision swiftly drew ire from President Donald Trump<\/a>, who charged that he was only staying as he “can’t get a job anywhere else.”<\/p>\n

At his press briefing,\u00a0Powell\u00a0gave a lengthy explanation of why central bank independence was key to the economy<\/a> and the general public.<\/p>\n

“We just work directly for the American people,” he said.<\/p>\n

“We don’t think, oh, I want to do this because the president says it’s a good idea, or because there’s an election coming up and I want to speed up or slow down the economy,”\u00a0Powell\u00a0added.<\/p>\n

“This isn’t bipartisan. This is nonpartisan,” he said.<\/p>\n

Read moreTrump names former Fed governor \u200dKevin Warsh to replace Powell as US \u200ccentral \u200dbank head<\/a><\/p>\n

The briefing, where\u00a0Powell\u00a0appeared more relaxed than previous news conferences, concluded with some applause.<\/p>\n

“You want people to make monetary policy and set interest rates<\/a> to benefit the general public, and try to achieve economic goals, which are maximum employment<\/a> and price stability, and focus only on that, and ignore political considerations — completely ignore them,” he said.<\/p>\n

The Fed has come under sharp pressure from Trump during\u00a0Powell’s term, sparking concerns that its cherished independence could be eroded.<\/p>\n

Trump has called\u00a0Powell\u00a0a “numbskull” and “moron,” lashing out at the Fed chief for not slashing interest rates more aggressively.<\/p>\n

His Justice Department also launched an investigation<\/a> into the Fed and\u00a0Powellover renovation cost overruns at the central bank’s headquarters.<\/p>\n

But the department said last Friday that it would drop the probe for now.<\/p>\n

Powell\u00a0noted Wednesday that the Justice Department has provided assurances that it would not reopen the probe without a criminal referral from the Fed’s inspector general.<\/p>\n

He stressed the need to keep the Fed insulated from politics.<\/p>\n

Otherwise, he added, “we’d have no credibility.”<\/p>\n

“Markets would lose faith in us and our ability to control inflation<\/a> and have any respect would be gone,” he said.<\/p>\n

(FRANCE 24 with AFP)<\/p>\n","protected":false},"excerpt":{"rendered":"US Federal Reserve Chair Jerome\u00a0Powell\u00a0made a fervent appeal Wednesday for central bank independence, as he prepares to cap…\n","protected":false},"author":2,"featured_media":417736,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[16754,150842,156870,4318,42,4487,43145,43,21457,40,38,41,39,627],"class_list":["post-417735","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-central-bank","tag-central-bank-independence","tag-fed-governor","tag-federal-reserve","tag-headlines","tag-jerome-powell","tag-justice-department","tag-news","tag-press-conference","tag-top-news","tag-top-stories","tag-topnews","tag-topstories","tag-trump"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/417735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=417735"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/417735\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/417736"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=417735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=417735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=417735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}