U.S. Treasury Secretary Basant: Powell's Decision to Stay on as Governor Would Contradict Tradition
On April 30, U.S. Treasury Secretary Basant stated that if the outgoing Federal Reserve Chairman Powell were to remain as a Fed governor, it would be unusual. For someone who has consistently emphasized norms, his unilateral decision contradicts tradition. Kevin Walsh will bring a new atmosphere to the Federal Reserve with a clear accountability system, effective management mechanisms, and sound policy-making.
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