Is Powell still on track for second term?
Despite scandals and vocal criticism, support still looks likely to outweigh opposition
On September 28, senator Elizabeth Warren told Federal Reserve chair Jerome Powell at a Senate banking committee hearing that it would be “dangerous” to leave him in charge of bank oversight. A week later, addressing the resignation of two regional Fed presidents over controversial stock trades, Warren told the chamber that Powell presided over “a culture of corruption” at the central bank, and that he had “failed as a leader”.
Powell’s current four-year term ends as chair in February. At least
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