Powell's move was quite steady, quietly remaining in position without stealing the spotlight, but with his 14-year board term in place, the future direction of the Federal Reserve still depends on his stance.

ME News said that while Powell’s way of being retained is unusual, during his tenure on the board he will act discreetly and will not “shadow-chair” to challenge Wacht. If he keeps his word, he may return to the FOMC and express moderate views on interest-rate issues. Although he is no longer leading policy, due to his 14-year term on the board and a structurally misaligned setup, he still has influence over the Federal Reserve’s future. If Powell leaves, Trump could have nominated Wacht to take over the remainder of the term and reserved a seat for a potential nominee, but in reality, Wacht can only fill the Milan seat.