In a break with tradition, Powell will not resign from the Board of Governors at the end of his chairmanship. He will remain until the Department of Justice investigation of him is complete and settled.
The last time a Fed chair stayed on as governor after their term ended was in 1948: Marriner Eccles ended his term as Fed chair that year and continued to serve on the Board of Governors until 1951
I read that Eccles stayed on to protect the Fed from pressure it was receiving at the time. It looks like Powell is staying on for similar reasons.
So he is stating he won't resign until the investigation on him is OVER and settled. So is he doing this in hopes of the investigation to be dropped??? So that Trump can get someone he wants on the Board?
Now I have no problems at all with Powell. He did the right thing keeping rates higher than what Trump wanted. For the long run it is the correct thing to do. Dropping interest rates down to what they were when Trump was last in office is stupid and would just inflate costs on housing and inject the market with cheap money. This will increase most peoples debt.
Powell also said, according to the NY Times report: "Mr. Powell made clear on Wednesday that he wanted nothing more than to leave the Fed. Yet he said he had “no choice” but to stay and guard against further encroachments on the institution where he has served for nearly 14 years, first as a governor and then as chair. The last time a chair whose term had expired stayed on as a governor was in 1948.
“I’m literally staying because of the actions that have been taken,” Mr. Powell said when asked about whether his decision would be viewed as a political act. “I have long planned to be retiring.” So if Trump hadn't opened his fat yap, Powell would be leaving now. Just one more example of Trump stepping on his own dick. Except it's not long enough for him to literally do that.
AGAIN..... what you posted doesn't say shit about the "speculation" i brought up. He tries to be "honorable" by saying to "guard against further encroachments". But they says "I am staying on because of actions that have been taken".....ie: The investigation.
He stated he planned to "retire".... .but now there is an investigation into him. Then he said he would step down once the investigation is over and "completed/finished". So again..... is he "staying on" because of the investigation.
We will never know unless Trump drops the investigation immediately and then Powell steps down.
I will say it again..... I think Powell did a good job. But you have to wonder if he is afraid of what might be found out. Remember the investigation is mainly because of "over budget" of the new building.
the investigating/Probe is getting "dropped" by the DOJ. Yet Perrio wants to keep "pressure" on. SO we will see if Powell now steps down.
From AI Overview: "On April 24, 2026, the Justice Department dropped its criminal investigation into Federal Reserve Chair Jerome Powell regarding the $2.5 billion renovation of the Fed’s headquarters. The probe, centered on alleged false statements about project costs, was widely seen as political pressure from the administration to influence interest rate policy."
out of the woods, too, a few weeks ago. Brennan will be next. Odds in California have Brennan the favorite to flip on the rest. He has always been the "weasel-in-chief" among the Trump-haters.
If you think being in the woods is being accused of posting a picture of an ambiguous message created by someone else. well, I'd say you are delusional Comey is most likely to win a large judgement for malicious prosecution. Oh, and while you've been under that rock, Justice has withdrawn several subpoenas in the Brennan case.
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