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Powell is pulling the ultimate office power play by stepping down as Chair while keeping his seat at the table. By staying on as a governor, he is effectively becoming a Shadow Chair, ensuring that his vote and his institutional memory do not just vanish when Kevin Warsh takes over. It is a direct response to the years of pressure from the White House.

Powell is essentially signaling that while the leadership might change, the Fed’s independence is not for sale. This move transforms the upcoming meetings from routine economic updates into a high stakes tug of war for the future of the economy.

Credit card debt is becoming viral content as Americans post massive balances, minimum-payment traps, retail card debt, and 25% APR horror stories while banks, apps, and influencers profit from it all.