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Will Powell stay or go? Fed chair may reveal next steps after central bank meeting Wednesday
Powell may say whether he will stay on the Fed board as policymakers are expected to hold rates steady at about 3.6%, officials said.
- On Wednesday, the Senate Banking Committee will vote to confirm President Trump's nominee Kevin Warsh as the next Fed Chair, succeeding Fed Chair Jerome Powell, with approval expected.
- North Carolina Republican Sen. Thom Tillis dropped his block on Warsh's nomination after U.S. Attorney Jeanine Pirro closed the Justice Department's investigation into Powell on Friday.
- Inflation has jumped to 3.3%, a two-year high, complicating the Fed's ability to reduce rates, which are expected to remain at about 3.6% on Wednesday.
- Powell may announce Wednesday whether he will remain on the board after his term as chair ends May 15, though analysts warn of a 'two Popes' scenario increasing policy divisions.
- White House press secretary Karoline Leavitt suggested Trump will not seek to fire Powell once Warsh is confirmed, but Powell alone must decide whether to remain on the board.
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Associated Press News+10 Reposted by 10 other sources
Will Powell stay or go? Fed chair may reveal next steps after central bank meeting Wednesday
The Federal Reserve will meet this week ahead of a looming leadership transition that remains fuzzy, and Wednesday’s news conference will be closely watched for any clarification.
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Now It's The Fed Chair's Choice: Should He Stay Or Should He Go?
Just to be clear, I’m not saying that the Clash had those numbers right re the trouble ratio if he stays or if he goes. But it did seem to be the relevant hook.Now that the pathway for replacing Federal Reserve Chair Jerome Powell with Trump’s nominee, Kevin Warsh, was cleared yesterday, I expect Warsh’s nomination to quickly get out of committee and over to the Senate floor, where he should have no problem getting a majority (he may not get any…
Coverage Details
Total News Sources12
Leaning Left6Leaning Right0Center5Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
55% Left
L 55%
C 45%
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