Powell Says He Has 'No Choice' But to Stay at Fed

Summary

Federal Reserve Chair Jerome Powell explains his decision to stay on the Fed board despite planned retirement, citing unprecedented legal attacks on the central bank that threaten its independence. He emphasizes that political pressure undermines the Fed's ability to conduct monetary policy for the public good. Powell states he will leave when it is appropriate.

• Powell says legal attacks by the administration are unprecedented in the Fed's 113-year history.
• He argues these attacks threaten the Fed's ability to conduct monetary policy without political factors.
• Powell states he has 'no choice' but to stay due to actions taken in the last three months.
• His term as Fed chair ends May 15, but his board seat lasts until 2028.
• Powell says his intention is not to interfere but to collaborate with the new chair.
• The discussion focuses on Fed independence as a critical institutional foundation for the U.S. economy.