The Federal Reserve's power transition is now bumpy and Powell's temporary tenure as chairman is questioned internally

On May 17, according to the British Financial Times, two Federal Reserve officials nominated by US President Trump opposed letting Powell serve as interim chairman of the Federal Reserve "without time limit." This highlights the deepening political divisions within the central bank as the White House continues to attack the Fed. Federal Reserve Chairman Powell's second term ends on Friday. Before his official successor, Washi, completed his inauguration, Powell was appointed interim chairman to take over his responsibilities. Milan and Bowman, who were nominated by Trump to the Fed's board of governors, said in a joint statement that they supported having Powell temporarily serve as interim chairman, but because the arrangement was "open-ended", they were "unable to support the action." Among them, Milan voted against it, while Bowman chose to abstain. Milan and Bowman said in a statement that Powell's appointment as interim chairman "should be limited to a clear and limited time frame of at least one week" but that they "can support a maximum of one month." (Jin Shi)