Federal Reserve Chair Powell to remain on board as governor

Federal Reserve head Jerome Powell announced Wednesday he will remain on the central bank’s board after his term as chair ends.

Powell said during a press conference that he will stay as a governor with a “low profile” after the Senate confirms his nominated replacement, Kevin Warsh. Powell’s plan will likely anger President Donald Trump, who has threatened to fire him over his policy stances.

“My decisions on these matters will continue to be guided entirely by what I believe is in the best interest of the institution and the people we serve,” Powell said. “After my term as chair ends on May 15, I will continue to serve as a governor for a period of time to be determined.”

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