Fed Chair Powell: Long planned on retiring but actions of last three months have caused me to stay

• Powell highlights 'legal attacks on the Fed' as an unprecedented threat to its independence in its 113-year history.
• He emphasizes that the Fed's ability to conduct monetary policy without political influence is foundational to the U.S. economy.
• Powell states he will continue to serve as a Fed governor to see the institution through these challenges, despite having planned to retire.

Fed Chair Jerome Powell expressed deep concern over unprecedented legal attacks on the Federal Reserve, stating these actions threaten the institution's ability to conduct monetary policy free from political influence. He revealed he had planned to retire but felt compelled to stay on the board to navigate these challenges and protect the Fed's independence, which he views as critical for the U.S. economy.