Powell Decides to Remain on Fed Board, Trump Again Posts Insulting Remarks
The unusual conflict between Federal Reserve (Fed) Chairman Jerome Powell and President Donald Trump entered a new phase today, as the outgoing chairman announced he would continue to serve as a governor, prompting Trump to immediately post another sarcastic remark.
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- 📰 Published: April 30, 2026 at 11:55
- 🔍 Collected: April 30, 2026 at 12:01 (5 min after Published)
- 🤖 AI Analyzed: April 30, 2026 at 12:18 (16 min after Collected)
Central News Agency
(Central News Agency, Washington, April 29, comprehensive foreign report) The unusual conflict between Federal Reserve (Fed) Chairman Jerome Powell and President Donald Trump entered a new phase today, as the outgoing chairman announced he would continue to serve as a governor, prompting Trump to immediately post another sarcastic remark.
Agence France-Presse reported that Powell stated that although his term as Fed chairman will expire on May 15, he will exercise his right to remain on the Board "for an indefinite period."
Facing unprecedented pressure from the Trump administration, Powell seemed concerned about the Fed's ability to maintain its independence.
Powell told reporters: "I am concerned that these attacks are undermining the institution and putting at risk something that is really important to the public, which is the ability to conduct monetary policy without political considerations."
But Powell has long angered Trump by ignoring calls for interest rate cuts; the Republican Trump has been eager for Powell to step down.
After Powell's announcement, Trump posted on his social media platform: "Jerome 'Too Late' Powell wants to stay at the Fed because he can't find a job anywhere else, nobody wants him."
While it is unusual for a former chairman to remain as a governor, it is not unprecedented.
Powell's term as a governor can last until 2028, and he promised to "keep a low profile" under the leadership of Trump's nominated new chairman, Kevin Warsh.
But Trump's Treasury Secretary Scott Bessent told Fox Business that the move violates Fed custom and is an "insult" to Warsh.
Since returning to power last year, Trump has frequently criticized Powell for failing to cut interest rates faster; although this policy would stimulate economic activity, it could also fuel inflation.
In addition, Trump also tried to remove Fed Governor Lisa Cook on mortgage fraud charges, a case currently being heard by the Supreme Court.
Meanwhile, Trump's Justice Department launched a criminal investigation into Powell and the Fed's excessive renovation costs, which Powell called a means to undermine the Fed's independence. (Compiler: Li Pei-shan) 1150430
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(Central News Agency, Washington, April 29, comprehensive foreign report) The unusual conflict between Federal Reserve (Fed) Chairman Jerome Powell and President Donald Trump entered a new phase today, as the outgoing chairman announced he would continue to serve as a governor, prompting Trump to immediately post another sarcastic remark.
Agence France-Presse reported that Powell stated that although his term as Fed chairman will expire on May 15, he will exercise his right to remain on the Board "for an indefinite period."
Facing unprecedented pressure from the Trump administration, Powell seemed concerned about the Fed's ability to maintain its independence.
Powell told reporters: "I am concerned that these attacks are undermining the institution and putting at risk something that is really important to the public, which is the ability to conduct monetary policy without political considerations."
But Powell has long angered Trump by ignoring calls for interest rate cuts; the Republican Trump has been eager for Powell to step down.
After Powell's announcement, Trump posted on his social media platform: "Jerome 'Too Late' Powell wants to stay at the Fed because he can't find a job anywhere else, nobody wants him."
While it is unusual for a former chairman to remain as a governor, it is not unprecedented.
Powell's term as a governor can last until 2028, and he promised to "keep a low profile" under the leadership of Trump's nominated new chairman, Kevin Warsh.
But Trump's Treasury Secretary Scott Bessent told Fox Business that the move violates Fed custom and is an "insult" to Warsh.
Since returning to power last year, Trump has frequently criticized Powell for failing to cut interest rates faster; although this policy would stimulate economic activity, it could also fuel inflation.
In addition, Trump also tried to remove Fed Governor Lisa Cook on mortgage fraud charges, a case currently being heard by the Supreme Court.
Meanwhile, Trump's Justice Department launched a criminal investigation into Powell and the Fed's excessive renovation costs, which Powell called a means to undermine the Fed's independence. (Compiler: Li Pei-shan) 1150430
Choose to stand with facts, every sponsorship you make is a force to protect press freedom.
Download the Central News Agency "First-hand News" APP to stay updated with the latest news.
All text, images, and videos on this website may not be reproduced, publicly broadcast, publicly transmitted, or utilized without authorization.
Keywords: