Federal Reserve Chairman Jerome Powell has made a surprise announcement, confirming he will remain on the central bank's Board of Governors after his term as chair comes to an end. In a move that could have significant implications for the future of monetary policy in the US, Powell cited "legal attacks" on the Federal Reserve as the reason for his decision to stay on. The move follows a tumultuous period for the Fed, which has faced intense scrutiny from lawmakers and critics over its handling of inflation and interest rates. With Powell's continued presence on the Board of Governors, he will maintain a powerful influence over the Fed's decision-making process, even as he steps down as chair.
Powell confirmed he will stay on as a member of the Fed’s Board of Governors after his term as chair expires, citing “legal attacks" on the central bank.
