Powell won’t leave the Fed, in a blow to Trump
Powell says he will stay on as Fed governor after stepping down as chair.
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powell said wednesday he won't leave the fed early, telling reporters he'll "continue to serve as a governor for a period of time to be determined." the outgoing chair's decision is a blow to trump, who had pushed for powell's removal and wanted a loyalist in the role. powell's term as chair ends in may 2026, but he can stay on as a governor until 2028. the fed has been under sustained political pressure from the white house over rate policy.
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