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Good news: Powell will step down as Chair of the Federal Reserve in mid-May.
Bad news: He will continue to serve as a Federal Reserve Governor and has no plans to leave.
Federal Reserve Governors have a vote to formulate and implement monetary policy, oversee Federal Reserve banks, and determine interest rates. Old Powell still can’t put his mind at ease about the U.S. economy—he worries that after he steps down, the interest rates will get ruined by Trump and Waller. Unfortunately, you can’t twist an arm against a thigh; the U.S. still goes by what Trump says.