{"id":2598291,"date":"2026-05-03T16:28:01","date_gmt":"2026-05-03T20:28:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/powell-staying-on-as-fed-board-governor-violates-all-norms-bessent-says\/"},"modified":"2026-05-03T16:29:47","modified_gmt":"2026-05-03T20:29:47","slug":"powell-staying-on-as-fed-board-governor-violates-all-norms-bessent-says","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/powell-staying-on-as-fed-board-governor-violates-all-norms-bessent-says\/","title":{"rendered":"Powell staying on as Fed board governor &#8216;violates all norms,&#8217; Bessent says"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fpowell-staying-on-as-fed-board-governor-violates-all-norms-bessent-says%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2598291&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Treasury Secretary Scott Bessent said Federal Reserve Chair Jerome Powell should \u201cmove on\u201d after his chairman term ends in mid-May, criticizing Powell\u2019s decision to remain on the Fed\u2019s Board of Governors even though President Trump did not request it. Bessent argued the move breaches norms adn described it as an \u201covershadow chair.\u201d<\/p>\n<p>Powell announced on Wednesday that he woudl stay as a governor after his May 15 departure as chairman, a decision that prevents another Trump nomination to the board-pending Senate approval of Trump-appointed Kevin Warsh as chairman. The article notes the only prior example of a chair staying on as a governor after their chairmanship ended was Marriner Eccles, at president Harry Truman\u2019s request.<\/p>\n<p>Bessent said he expects Powell will eventually depart. Meanwhile, the Senate is preparing to vote on Warsh\u2019s nomination, which advanced from the Senate Banking Committee on a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sen-joe-manchin-threatens-to-derail-bidens-1-9-trillion-aid-bill-unless-it-receives-bipartisan-support\/\" title=\"Sen. Joe Manchin Threatens To Derail Biden\u2019s .9 Trillion Aid Bill Unless It Receives \u2018Bipartisan\u2019 Support\">party-line vote<\/a>. If confirmed, Warsh would likely start leading the Fed in time for the June board meeting.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<article class=\"fn-body\">\n<p>Treasury Secretary <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/scott-bessent\/\" type=\"post_tag\" id=\"11700\">Scott Bessent<\/a> said it\u2019s time for Federal Reserve Chairman <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/jerome-powell\/\" type=\"post_tag\" id=\"725\">Jerome Powell<\/a> to \u201cmove on\u201d from the central bank after his <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/huge-development-hand-recount-finds-dominion-voting-machines-shorted-every-republican-in-windham-new-hampshire-300-votes\/\" title=\"HUGE DEVELOPMENT: Hand Recount Finds Dominion Voting Machines Shorted EVERY REPUBLICAN in Windham, New Hampshire, 300 ...s!\">term expires<\/a> in mid-May, deriding Powell\u2019s decision to stay aboard as a governor.<\/p>\n<p>\u201cIt\u2019s Chair Powell\u2019s decision to stay as a governor if he wants. I think it violates all norms. They would say that one other governor did stay that was at the request of the president. The president has not requested that Chair Powell stay,\u201d Bessent said on Fox News\u2019s <em>Sunday Morning Futures<\/em>.<\/p>\n<section class=\"explore-more-section\" id=\"wex-recommended-widget\">\n<div class=\"magazine-container single\">\n<h1 class=\"magazine-title mt-2\">Recommended Stories<\/h1>\n<p>             <i class=\"fa-solid fa-play icon\"><\/i>         <\/div>\n<div class=\"explore-grid\">\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4549359\/government-issue-first-trump-tariff-refund-two-weeks\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Government set to issue first Trump tariff refunds within two weeks<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4548575\/inflation-rose-march-fed-preferred-gauge-iran-war-fallout\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Inflation rose to 3.5% in March in Fed\u2019s preferred gauge because of Iran war fallout<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4548609\/gdp-growth-rebounded-to-2-rate-in-first-quarter\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>GDP growth rebounded to 2% rate in first quarter<\/h3>\n<p>                         <\/a>                     <\/div>\n<\/p><\/div>\n<\/section>\n<p>Powell, who has sparred with President <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/donald-trump\/\" type=\"post_tag\" id=\"4\">Donald Trump<\/a> throughout the first year-and-a-half of Trump\u2019s second term over <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/interest-rates\/\" type=\"post_tag\" id=\"727\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/5-reasons-making-taxpayers-pay-off-student-loans-is-a-rotten-idea\/\" title=\"5 Reasons Making Taxpayers Pay Off Student Loans Is A Rotten Idea\">interest rates<\/a><\/a>, announced on Wednesday that <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/4548385\/powell-stay-fed-board-chairmanship-ends-denying-trump\/\">he would stay on<\/a> the Fed\u2019s Board of Governors after his term as <a href=\"https:\/\/amzn.to\/3YuVZYV\" >chairman ends<\/a> on May 15. The move robs Trump of another nomination to the board as Trump-appointed Kevin Warsh comes on board as chairman, pending Senate confirmation.<\/p>\n<div class=\"article-paywall\">\n<p>The only other Fed chairman <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/4548385\/powell-stay-fed-board-chairmanship-ends-denying-trump\/\">to stay on the board as a governor<\/a> after his term as chairman expired was Marriner Eccles, at <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.trumanlibrary.gov\/library\/public-papers\/13\/letter-marriner-eccles-asking-him-remain-federal-reserve-board-vice\">the request of<\/a> President <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/harry-truman\/\" type=\"post_tag\" id=\"1692\">Harry Truman<\/a>.<\/p>\n<p>\u201cI am optimistic that after a period, he may move on,\u201d Bessent said of Powell. \u201cI think that it would be inappropriate to overshadow \u2014 I wouldn\u2019t call this a shadow chair, I\u2019d call it an overshadow chair. And I hope that Chair Powell will move on over the short term.\u201d<\/p>\n<p>Powell\u2019s unprecedented decision to stay on despite not being asked to by the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mike-kelly-same-people-criticizing-trump-peddled-russia-collusion-hoax\/\" title=\"Mike Kelly: Same People Criticizing Trump Peddled Russia Collusion Hoax\">sitting president<\/a> comes as the full Senate prepares to vote on Warsh\u2019s nomination, likely during the week <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.reuters.com\/business\/fed-chief-nominee-warsh-set-clear-key-confirmation-hurdle-wednesday-2026-04-29\/\">of May 11<\/a>. On Wednesday, the <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/senate-banking-committee\/\">Senate Banking, Housing, and Urban Affairs Committee<\/a> voted 13-11 on party lines <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/senate\/4544420\/warsh-nomination-advances-after-tillis-blockade-ends\/\">to approve Warsh\u2019s nomination<\/a> after Sen. <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/thom-tillis\/\" type=\"post_tag\" id=\"973\">Thom Tillis <\/a>(R-NC) dropped his vocal disapproval of the nomination.<\/p>\n<p><strong><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/4547995\/fed-holds-interest-rates-steady-in-what-will-likely-be-powells-last-meeting\/\" type=\"post\" id=\"4547995\">FED HOLDS INTEREST RATES STEADY IN WHAT WILL LIKELY BE LAST MEETING UNDER POWELL<\/a><\/strong><\/p>\n<p>If the full Senate votes to confirm Warsh, he would likely begin his chairmanship in time to lead the Fed\u2019s June board meeting.<\/p>\n<p>\u201cI\u2019m very optimistic about the Warsh Fed. It\u2019s time for a change,\u201d Bessent said on Sunday.<\/p>\n<\/div>\n<\/article>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Treasury Sec. Bessent: Powell should \u201cmove on\u201d after May term<\/p>\n","protected":false},"author":3976,"featured_media":2598294,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/05\/image-collage-5qp02jzfc-1777836089425-e1777837372780.jpg?1777822975&amp;w=696","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[7498,79040,34342,38541,79039],"class_list":["post-2598291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-fed","tag-governance-norms","tag-jerome-powell","tag-monetary-policy","tag-richard-bessent"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/05\/image-collage-5qp02jzfc-1777836089425-e1777837372780.jpg?1777822975&amp;w=696","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2598291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3976"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2598291"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2598291\/revisions"}],"predecessor-version":[{"id":2598296,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2598291\/revisions\/2598296"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2598294"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2598291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2598291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2598291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}