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.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bank of America: S&P 500 Headed for Fourth Consecutive Year of Double-Digit Gains; Materials Sector Next to Rally
According to Bank of America's Michael Hartnett team on May 8, the S&P 500 is on track for a fourth consecutive year of double-digit gains, a historically rare occurrence. The index is currently posting an annualized gain of approximately 20%. Hartnett and his team predict materials stocks will
GateNews2h ago
S&P 500 E-Mini Futures Rise 0.33%, Nasdaq-100 Futures Up 0.52% on May 8
According to Gate market data, S&P 500 E-Mini futures rose 0.33%, Nasdaq-100 futures rose 0.52%, and Dow Jones futures rose 0.15% on May 8.
GateNews3h ago
China A-Share Indices Close Mixed on May 8, Over 120 Stocks Hit Daily Limit
According to Xinshi Data, China's A-share indices closed mixed on May 8. The Shanghai Composite Index closed flat, while the Shenzhen Component Index fell 0.5% and the ChiNext Index dropped 0.96%. The Beijing Stock Exchange 50 Index rose 2.24%. Combined trading volume in Shanghai and Shenzhen
GateNews4h ago
Switzerland's April Consumer Confidence Index Rises to -41.04, Beating -45.5 Forecast
Switzerland's consumer confidence index for April came in at -41.04, beating the expected -45.5, according to official data. The previous month's reading was also revised upward to -32.35 from -42.9, indicating improved
GateNews4h ago
European Stocks Open Lower on May 8, Stoxx 50 Down 1%
Major European indices opened lower on Friday, May 8, with the Stoxx Europe 50 leading losses at 1.00% to 5,913.06. Germany's DAX fell 0.92% to 24,445.25, while France's CAC 40 declined 0.76% to 8,139.91. The UK FTSE 100 dropped 0.61% to 10,214.55, Spain's IBEX 35 fell 0.74% to 17,917.58, and
GateNews4h ago
U.S. Adds 205,000 Jobs Through March 2026, Averaging 68,000 Monthly Despite Volatility
According to Golden Ten Data, citing The Kiplinger Letter, the U.S. added 205,000 jobs through March 2026, with monthly volatility: January saw 160,000 new positions, February declined by 133,000, and March rebounded with 178,000 additions, averaging 68,000 jobs per month.
Economist David Payne
GateNews5h ago
