Powell: Disagrees with Trump Administration, Planned Retirement but Had No Choice but to Stay

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On April 30, Federal Reserve Chairman Powell stated that it is important for people to rely on the Federal Reserve, free from political influence. Ongoing additional actions threaten the Fed’s ability to fulfill its duties. I will leave the Federal Reserve when I believe the time is right. I do not agree with the actions of the Trump administration. (When asked if his continued presence on the Fed Board was politically motivated) I do not think so. The Federal Reserve must never get involved in politics, which is extremely important. I had long planned to retire, but recent government actions left me with no choice but to stay.

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