Washington, Jan 29 (IANS) US Federal Reserve Chair Jerome Powell declined to comment on his future at the central bank during a wide-ranging press conference.
Asked whether he has decided to remain as a Fed governor, Powell said: “No.” He added: “I really, once again, have nothing for you on that today.”
Pressed on when a decision might come, Powell repeated that he had nothing to add.
When asked why he might consider leaving, Powell declined again. “There’s a time and place for these questions,” he said. “Not something I’m going to be getting into today.”
Powell also declined to answer questions about possible subpoenas or political actions involving the Fed. “I have nothing for you on that today,” he said.
He avoided speculation about any transition if a new Fed chair is nominated. He said such matters depend on Congress and declined to elaborate.
Powell instead focused on economic policy and the Fed’s mandate. He reiterated the importance of central bank independence from politics.
“The point of independence is not to protect policymakers,” Powell said. He said it is an institutional arrangement used by advanced democracies.
He warned that losing public trust would be damaging. “It would be hard to restore the credibility of the institution,” he said.
Powell said he remains committed to that principle. “I’m strongly committed to that, and so are my colleagues,” he said.
The Fed chair is appointed by the US President and confirmed by the Senate. The position plays a central role in setting US monetary policy. Questions about Fed leadership often intensify during periods of political scrutiny, though the central bank operates independently of the White House.
Meanwhile, addressing the reporters on Wednesday (local time), Powell said inflation is still “somewhat elevated,” with tariffs pushing up goods prices.
The Federal Open Market Committee “decided to leave our policy rate unchanged,” Powell said. The Fed kept the target range for the federal funds rate at 3.5 per cent to 3.75 per cent.
Powell said the economy “expanded at a solid pace last year” and is starting 2026 “on a firm footing.” He said consumer spending has been “resilient.” He said business investment has continued to grow. However, he said that housing “has remained weak.”
–IANS
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