PANews April 28 news, according to Jin Shi reports, this week is destined to be significant for the Federal Reserve. After the U.S. Department of Justice concluded its investigation into Powell, Republican Senator Tillis withdrew his obstruction of the confirmation process for the Federal Reserve Chair nominee Waller last Sunday. The Senate Banking Committee has scheduled the nomination vote for Waller to take place at 10 PM Beijing time on Wednesday, which will clear the way for the Senate's full confirmation vote before the week of May 11. Hours after the nomination vote, the Federal Reserve will announce its interest rate decision for April, and Powell will also hold his 63rd, and likely his last, press conference as Federal Reserve Chair. If Waller's nomination as Chair and Board member is approved, interim member Milan will be replaced, making him the official with the shortest tenure since the 1950s. If he does not return to the Federal Reserve, Milan, who has been pushing for rate cuts, will attend his sixth and final Federal Reserve meeting this week.

The question now is—will Powell follow the norm of resigning from his position as Federal Reserve Chair (term ending on May 15) while also giving up his Board seat (which expires on January 31, 2028)? If Powell chooses to leave immediately and another "insider" appointed by Trump fills his Board vacancy, Trump would have four of his own appointees (Waller, Bowman, Waller) on the seven-member Federal Reserve Board, supporting potential radical measures (including the dismissal of regional Federal Reserve presidents) that undermine the traditional structure of the Federal Reserve. Powell's final decision will directly affect the pace and intensity with which Waller or Trump reshapes the operation of the Federal Reserve.

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