Jerome Powell vows to stay at Fed as Trump pressure campaign backfires
The Washington Post • • business
Key Points:
- Jerome Powell, the outgoing Federal Reserve chair, announced he will remain as a Fed governor due to months of legal pressure, preventing the White House from filling a key board seat.
- President Donald Trump conducted an aggressive and public campaign over the past year to influence the Federal Reserve, including threats against Powell and calls for significant interest rate cuts.
- Trump also encouraged a criminal investigation, sought to fire a sitting Fed governor, and pushed for policies aimed at stimulating the economy through lower interest rates.
