‘Unprecedented attacks’: Fed chair takes aim at Trump as he vows to stay on board
Federal Reserve Chair Jerome Powell announced he will remain on the Fed's board as a governor after his term as chair ends, citing unprecedented attacks from the Trump administration that threaten the central bank's independence. Powell's decision, the first of its kind since 1948, prevents President Trump from appointing a replacement to the seven-member board. The move may complicate incoming Chair Kevin Warsh's efforts to push for interest rate cuts favored by Trump.
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