Former Fed Vice Chair Suggests Powell May Stay to Limit Presidential Replacements
Alan Blinder, former vice chair of the Federal Reserve (U.S. central bank), says Jerome Powell’s decision to remain could aim to prevent the president from appointing more board members.
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Terms & Concepts
Federal Reserve: The central banking system of the United States, responsible for monetary policy and financial stability.
Board of Governors: The main governing body of the Federal Reserve, consisting of members who oversee monetary policy and regulation.
Vice Chair: A leadership position within the Federal Reserve, second to the Chair, involved in policy decisions and administration.