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Federal Reserve Governor Milan Says Powell Should Serve Only Briefly as Board Member After Leaving Chair

GateNews
Indices
According to Federal Reserve Governor Milan on Friday, May 8, Powell should serve only briefly as a board member after stepping down as chair. Milan stated that it is important to ensure this is a transition period rather than a long-term arrangement. Powell said last week he will continue serving as a board member until 2028 after his chairmanship ends, adding he wants to observe whether the Trump administration's legal challenges to the Federal Reserve will cease. Milan expressed concern about potential loyalty divisions within the Fed and the need for clear leadership authority, emphasizing the importance of keeping Powell's tenure as a board member as a temporary transition.
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