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NEW YORK, Dec 4 - Federal Reserve Chair Jerome Powell said on Wednesday he is not worried the incoming administration will undermine him as U.S. central bank leader through the people it nominates to Fed leadership ranks.
The Fed leader was addressing a question about an idea broached by Scott Bessent, named by President-elect Donald Trump to be Treasury Secretary, that speculated about naming a Fed governor understood to be a successor to Powell, whose term as Fed chair ends in May 2026. Trump has long had fractious relations with the Fed and Powell and could seek to take greater control of the central bank, which is independent by law, subject to the oversight of Congress.
Powell said at the event that when it comes to his relations with the incoming administration,"it’s going to be fine."
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