Federal Reserve Chair Jerome Powell on Wednesday said he would remain as a central bank governor “for a period” after his chairmanship ends and maintain a “low profile,” suggesting he’s unconvinced an investigation into the renovation of the Fed’s headquarters won’t resume.
The central bank chair said he had "no choice" to remain at the Federal Reserve.
Powell, who spoke Wednesday after the Federal Reserve voted to hold interest rates between 3.5% and 3.75%, said he would stay on its Board of Governors “for a period of time to be determined.”
Powell noted his decision stems from a “series of legal attacks” facing the Federal Reserve, adding, “I worry that these attacks are battering the institution and putting at risk the thing that really matters to the public,” which Powell said is the “ability to conduct monetary policy” without political interference.
“I will leave when I think it is appropriate to do so,” Powell said, adding he previously signaled he would not leave the Fed until an investigation into its renovation project was “well and truly over, and I stand by that.
