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Powell: Does Not Believe the Role of 'Shadow Federal Reserve Chair' Needs to Be Discussed

Powell: Does Not Believe the Role of 'Shadow Federal Reserve Chair' Needs to Be Discussed

Bitget2024/12/04 21:43

Bessent, who was nominated by Trump for Treasury Secretary, suggested in Barron’s that Trump should publicly appoint a successor to Federal Reserve Chair Jerome Powell as soon as he takes office, effectively creating a "shadow Federal Reserve chair." Powell opposed this idea, stating on Wednesday, "I don't think that's really a topic for discussion." He added, "There are institutional relationships between the Fed and each administration. I fully believe we can maintain the same relationship." Powell's term is set to end in early 2026.

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