Powell says he will stay on Fed board after chair term ends, addressing Trump's attacks
Summary
Jerome Powell will leave his role as Federal Reserve chair in May but will continue serving on the board until 2028. Kevin Warsh, chosen by President Trump to be the next Fed chair, has passed a Senate committee vote and is awaiting a full Senate confirmation.Key Facts
- Jerome Powell’s term as Federal Reserve chair ends in May.
- Powell will stay on the Federal Reserve board of governors until 2028.
- Kevin Warsh is President Trump’s nominee to become the new Fed chair.
- Warsh was approved by a Senate committee.
- The full Senate will vote soon to confirm Warsh as Fed chair.
- The Federal Reserve board oversees the U.S. central banking system.
- Powell has faced criticism from President Trump during his chairmanship.
- David Wessel from the Brookings Institution discussed these changes with reporter Amna Nawaz.
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