Jerome Powell Won’t Budge Even After DOJ Closes Investigation And Trump Nominee Set To Take Over Fed

I don't see that at all. As I mentioned, you know, I'm literally staying because of the actions that have been taken.

Sure. So, you know, my concern is really about the series of legal attacks on the Fed which threaten our ability to conduct monetary policy without considering political factors. And I want to note here this has nothing whatever to do with verbal criticism by elected officials. I've never suggested that such verbal criticism is a problem and neither has anyone else here. But these legal actions by the administration are unprecedented in our 113-year history and there are ongoing threats of additional such actions. I worry that these attacks are battering the institution and putting at risk the thing that really matters to the public, which is the ability to conduct monetary policy without taking into consideration political factors. It is so important for our economy, for the people that we serve, that they can depend over time on a central bank that operates that way free of political influence. It's part of the absolute foundation of this amazing economy that we have. It's just one of the many reasons why the US economy is the envy of the world. That piece of institutional architecture separates successful countries from unsuccessful countries. It is extremely important not for the people who work at the Fed in any given time, but for the people that we serve that the Fed remain able to conduct monetary policy in a way that doesn't get pulled into politics trying to help or hurt any particular politician or political party. It's critical for the people that we serve. In terms of when I would leave, I will leave when I think it's appropriate to do so. Was that all your questions or was there...

I don't see that at all. As I mentioned, you know, I'm literally staying because of the actions that have been taken. I had long planned to be retiring and, you know, the things that have happened in the really in the last 3 months have I think left me no choice but to stay until I see them through at least that long. You know, in addition, I don't see how this will interfere. My intention is not to interfere. You know, I was a governor for almost 6 years. And the tradition is at the Fed that governors who understand how difficult the role of chair is and as a soon-to-be former chair I do understand how hard it is to get consensus with 19 strong-minded people. You work with the chair. You try to be heard, but also collaborate with the chair and try to support the chair when you can. When you can't, you can't. And I think that's the attitude that people generally take and that's the attitude that I'll take.