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Analyst: Powell is not stepping down, and Trump's plan to install two people into the Federal Reserve has failed.
ME News message: On May 15 (UTC+8), Sylvan Lane, business editor of The Capitol Hill News, said that Powell has promised that although his reappointment is unusual, he will remain “low-key” during his term on the board and will not become a “shadow chairman” challenging Wosch’s influence. If he follows through on his word, Powell is likely to return to the Federal Open Market Committee and express his views on interest rates in a moderate manner.
The U.S. Federal Open Market Committee’s disagreements are growing on how to deal with the inflation surge triggered by Iran. Although Powell may no longer lead the Fed’s policy, due to the Federal Reserve Board’s unique composition, he could still have an important impact on the Fed’s future. The Federal Reserve Board’s seven members each serve 14-year terms, with the terms staggered. However, the length of the terms will not be recalculated when new members replace those who leave.
If Powell were to completely leave the Federal Reserve after his chairmanship ends, Trump could have nominated Wosch to fill the remainder of Powell’s board term, while reserving another Federal Reserve board seat for another potential nominee. But the reality is that Trump can now only nominate Wosch to fill the board seat that Milan is temporarily occupying. (Source: Jintian)