‘He can’t get a job elsewhere’: Trump mocks Powell’s decision to stay at Federal Reserve

Powell said, “After my term as chair ends on May 15, I will continue to serve as a governor for a period of time to ‌be determined.”

Federal Reserve Chair Jerome Powell Wednesday said he will continue as the governor of the US central bank for an undetermined time period even after his term ends next month.

Amid hopes of ongoing political hostilities ​towards the institution to slowly settle down, Powell said, “After my term as chair ends on May 15, I will continue to serve as a governor for a period of time to ‌be determined.”

He was addressing a news conference following his last policy meeting as the chair of the central bank of the United States.

Soon after, US President Donald Trump mocked Powell saying the Fed governor wants to stay back as he cannot get a job elsewhere. “Jerome “Too Late” Powell wants to stay at the Fed because he can’t get a job anywhere else — Nobody wants him,” Trump said in a Truth Social post. Trump has also threatened to fire Powell if he continues as a Fed governor.

Powell on Trump administration’s legal actions on Federal Reserve

At the press conference, Powell said a series of legal actions by Trump administration — from an effort to fire Fed Governor Lisa Cook to a criminal investigation ⁠of Powell — has put ​the Federal Reserve’s decision-making credibility at risk. These also threatened the line separating the bank’s interest rate policy from the short-term concerns of partisan politics.

“These legal actions by the administration are unprecedented in our 113-year history, and there are ongoing threats of additional such actions. I worry that these attacks are battering the institution and putting at risk the thing that really matters to the public, which is the ability to conduct monetary policy without taking into consideration political factors,” Powell said.

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Federal Reserve Chair Jerome Powell Wednesday said he will continue as the governor of the US central bank for an undetermined time period even after his term ends next month.

Amid hopes of ongoing political hostilities ​towards the institution to slowly settle down, Powell said, “After my term as chair ends on May 15, I will continue to serve as a governor for a period of time to ‌be determined.”

He was addressing a news conference following his last policy meeting as the chair of the central bank of the United States.

Soon after, US President Donald Trump mocked Powell saying the Fed governor wants to stay back as he cannot get a job elsewhere. “Jerome “Too Late” Powell wants to stay at the Fed because he can’t get a job anywhere else — Nobody wants him,” Trump said in a Truth Social post. Trump has also threatened to fire Powell if he continues as a Fed governor.

Powell on Trump administration’s legal actions on Federal Reserve

At the press conference, Powell said a series of legal actions by Trump administration — from an effort to fire Fed Governor Lisa Cook to a criminal investigation ⁠of Powell — has put ​the Federal Reserve’s decision-making credibility at risk. These also threatened the line separating the bank’s interest rate policy from the short-term concerns of partisan politics.

“These legal actions by the administration are unprecedented in our 113-year history, and there are ongoing threats of additional such actions. I worry that these attacks are battering the institution and putting at risk the thing that really matters to the public, which is the ability to conduct monetary policy without taking into consideration political factors,” Powell said.