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Powell May Stay on Federal Reserve Board After Chair Term Ends, Reuters Reports

According to Reuters, Jerome Powell’s lawyer said in a January meeting that Powell may remain on the Federal Reserve Board after his chair term expires in May, as a Justice Department probe examines the Fed’s headquarters renovation.

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Terms & Concepts
  • Federal Reserve Board: The governing body of the U.S. central bank, responsible for monetary policy and oversight of the financial system.
  • Justice Department probe: A formal investigation by the U.S. Department of Justice into potential legal or procedural issues.