President Trump is exerting pressure on Federal Reserve Chairman Jerome Powell to lower interest rates, which raises concerns about potential conflicts at the typically consensus-driven central bank. The structure of the Fed allows for the possibility of a split chairmanship, where the chair of the FOMC could differ from that of the board chair. While Powell's term as board chair ends in 2026, he can remain eligible to chair the FOMC until early 2028, depending on the decisions made regarding nominations and elections by the Fed.
President Trump's pressure on Federal Reserve Chairman Jerome Powell raises concerns about potential conflicts at the central bank, historically known for consensus-driven policies.
Traditionally, the FOMC elects the chair of the Board of Governors as its leader, but federal law allows for a separate chairmanship if chosen.
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