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Trump: Unconcerned About Powell's Board Tenure, Just Wants Kevin to Chair
On May 1, U.S. President Trump stated that he does not care if Powell remains on the board after his term as Federal Reserve Chair ends. Powell’s term as Chair will conclude on May 15, but his board term does not expire until 2028, and he has indicated his intention to ‘continue serving on the board for an undetermined period.’ Meanwhile, Kevin Warsh is expected to receive full Senate approval before Powell’s term ends, and Powell’s continued tenure could complicate Trump’s efforts to reshape the Federal Reserve. When asked if he was prepared to take any action regarding Powell’s decision to remain on the board, Trump replied, ‘No, I don’t care if he stays. I just want to ensure Kevin can take that position.’ (Jinshi)