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
U.S. Average Monthly Hiring Hits 55,000 Positions in 6-Month Average, Highest Since May 2025: Fed's Timiraos
According to Nick Timiraos, a key Federal Reserve official, the U.S. six-month average hiring reached 55,000 positions, marking the highest level since May 2025.
GateNews15m ago
U.S. Government Payrolls Fall 8,000 in April; Prior Month Revised to -5,000
U.S. government sector employment fell by 8,000 in April on a seasonally adjusted basis. The prior month's figure was revised to a decline of 5,000, down from the previously reported decline of 8,000.
GateNews26m ago
U.S. Unemployment Rate Holds at 4.3% in April, Meets Expectations
The U.S. unemployment rate remained at 4.3% in April, matching both market expectations and the prior month's reading, according to the Labor Department.
GateNews27m ago
U.S. Labor Force Participation Rate Falls to 61.8% in April, Misses 62% Forecast
The U.S. labor force participation rate declined to 61.8% in April, falling short of the expected 62% and down from 61.90% in the prior month.
GateNews27m ago
U.S. Manufacturing Employment Falls 2,000 in April, Missing Forecast
U.S. seasonally adjusted manufacturing employment declined by 2,000 workers in April, falling short of the expected gain of 5,000 and down from a gain of 15,000 in March, according to labor market data.
GateNews27m ago
U.S. Private Payrolls Rise 123K in April, Beating 75K Forecast
U.S. private payrolls increased by 123,000 in April, significantly exceeding the forecast of 75,000. The prior month's figure was revised upward to 190,000 from the initially reported 186,000.
GateNews28m ago
