Powell says he’ll stay at Fed after chair term ends, citing attacks by Trump team

AP Associated PressSouth China Morning PostFiled 2026-04-29 · 19:33 GMTLean · Center-RightRead · 1 min

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Briefing Summary

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NEWSAR · AI

Federal Reserve Chair Jerome Powell announced he will remain on the Fed's board after his term as chair concludes next month. Powell stated his decision to stay for an "undetermined period of time" is a response to what he described as "unprecedented" legal attacks on the institution by the Trump administration. He expressed concern that these attacks are damaging the Fed and jeopardizing its ability to serve the public interest. This move prevents President Trump from immediately appointing a replacement to Powell's seat on the seven-member governing board.

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Full report

1 min read · 104 words

Jerome Powell said he plans to remain on the board of the Federal Reserve after his term as chair ends next month “for an undetermined period of time”, citing the “unprecedented” legal attacks against the central bank by the Trump administration.“I worry these attacks are battering this institution and putting at risk the things that really matter to the public,” Powell said at a press conference after the Fed announced its decision to keep its benchmark interest rate steady.Powell’s decision to stay denies US President Donald Trump a chance to fill a seat on the central bank’s seven-member governing board with his own appointee.

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