Powell says decision to stay on at Fed reflects his concern about 'legal attacks'

Federal Reserve Chair Jerome Powell's term is approaching its end on May 15, but he announced he's temporarily staying on as a member of the Board.

He said he will leave "when I when I think it's appropriate to do so."

Powell said his decision reflects his concern about "the series of legal attacks on the Fed" that threaten its ability to conduct monetary policy.

"I worry that these attacks are battering the institution and putting at risk the thing that really matters to the public, which is the ability to conduct monetary policy without taking into consideration political factors," he said during a news conference on Wednesday.

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