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Trump: I don't care whether Powell stays on as a board member, I just want to ensure Kevin can serve as chairman.
BlockBeats News, May 1: U.S. President Trump said that even if Powell remains a Federal Reserve governor after his term as Federal Reserve Chair ends, he does not care.
Powell’s term as Federal Reserve Chair is set to end on May 15, but his term as a governor will not expire until 2028. He said that he plans to “continue serving as a governor for an undetermined period of time.”
Meanwhile, Kevin Waugh is expected to obtain approval from the full Senate before Powell’s term ends, and Powell’s continued service as a governor could make Trump’s efforts to reshape the Federal Reserve more complicated. When asked whether he is prepared to take any action regarding Powell’s decision to continue serving as a governor, Trump replied: “No, I don’t care whether he continues to serve as a governor. I just want to make sure Kevin can hold this position.” (Jin10)