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Real-time News
On May 15th, Sylvan Lane, business editor of The Hill, stated that Powell promised that while his reappointment would be unusual, he would remain "low-key" during his tenure on the Board and would not become a "shadow chairman" challenging Warshs influence. If he keeps his word, Powell is likely to return to the Federal Open Market Committee (FOMC) and express his views on interest rates in a moderate manner. The FOMC is increasingly divided on how to address the surge in inflation triggered by Iran. Although Powell may no longer dominate Fed policy, he could still have a significant impact on the Feds future due to the unique composition of the Fed Board. The seven members of the Fed Board each serve 14-year terms, with staggered terms. However, the term is not recalculated when a new board member replaces an outgoing member. If Powell were to leave the Fed permanently after his term as chairman, Trump could have nominated Warsh to succeed him for the remainder of his term, while reserving another board seat for another potential nominee. However, in reality, Trump can only nominate Warsh to fill the board seat temporarily held by Milan.Russian President Vladimir Putin: Russias unemployment rate remains at a low level of 2.2%.Iranian Foreign Minister Araqchi: Saboteurs are trying to disrupt the diplomatic process, and some warmongers want to drag the United States into another war. I hope the United States will not make this mistake. Ultimately, diplomacy will prevail.Iranian Foreign Minister: Iran is both ready to return to the fight and prepared for a diplomatic solution.Iranian Foreign Minister Araqchi: For more than 40 years, Iran has been the target of severe US sanctions. However, these sanctions have failed to change our resolve or policies.
