"The Federal Reserve Microphone": Powell restricts Trump from "exercising his power" at the Federal Reserve.

"Fed Whisperer" Nick Timiraos stated that Federal Reserve Chairman Powell said that if his successor is not confirmed before his term ends on May 15, he will continue to serve as Federal Reserve Chairman. This is his most direct statement so far regarding the upcoming leadership change at the Federal Reserve. Powell further stated that he will not leave the Federal Reserve Board as long as the investigation by the Justice Department into him is not concluded. Powell stated that he has not yet decided if he will continue to serve as a Federal Reserve Board member if the investigation results are released and a successor is appointed to take over his role as Chairman. It has been confirmed that Powell can serve as a Federal Reserve Board member until 2028 after his term as chairman ends. Powell's decision has a significant impact on Trump's ability to reshape the Federal Reserve's structure. If Powell continues to stay on the board, Trump will lose a position that he could have personally appointed. Currently, three of the seven members of the Federal Reserve Board were appointed by Trump.