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Tim Scott Says Powell Making a Mistake Staying at Fed

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Senate Banking Committee Chairman Tim Scott (R-SC) said Federal Reserve Chair Jerome Powell is making a “significant mistake” by staying on the Federal Reserve’s Board of Governors after his term atop the central bank ends, CNBC reports.

Said Scott: “He’s breaking 75 years of precedent. Every time you get a new chairman, the former chairman leaves. That’s good news because what you don’t want are these philosophies in conflict.”

He added: “I think for the country and for the Fed, it would be best if he left.”

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About Political Wire

Taegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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