CoinWorld News reports that former New York Fed Chair Dudley said that after Powell stepped down as Federal Reserve Chair, he decided to continue serving as a Federal Reserve Board governor, which will help reassure Wall Street and the public as President Trump pushes for lower interest rates. He noted that the Federal Reserve has been subjected to relentless attacks by the president, and its independence has also been called into question. Dudley believes that Powell’s staying on at the Federal Reserve would actually strengthen outside perceptions of the Fed’s independence. He said that if Powell is willing, staying on as governor would be a wise move. Powell’s term as a Federal Reserve Board member ends in 2028; after stepping down as Chair on May 15, he chose to remain on the board, which is not common in the Fed’s history. Waller, nominated by Trump, put forward reasons to support the rate-cutting plan the president is seeking, but traders are no longer betting that any rate cuts will happen this year, and Dudley also said that the case for monetary easing is “weak.”