Fed Chair Powell: Long planned on retiring but actions of last three months have caused me to stay

Summary

Federal Reserve Chair Jerome Powell explains his decision to remain on the board due to recent legal attacks on the Fed, which he argues threaten the institution's independence and ability to conduct monetary policy without political interference. The discussion focuses on governance and institutional integrity rather than specific market or economic forecasts.

• Powell states he had long planned to retire but changed his decision due to actions in the last three months.
• He cites unprecedented legal actions by the administration against the Fed.
• Powell emphasizes the importance of monetary policy free from political influence for the U.S. economy.
• He addresses criticism that staying is a political act, denying that intent.
• The transcript ends mid-sentence during his explanation of working with the new chair.