Powell says he will stay on as head of the Fed until Warsh is confirmed [View all]
Source: CNBC
Published Wed, Mar 18 2026 2:57 PM EDT Updated 3 Min Ago
Federal Reserve Chair Jerome Powell says he will keep serving as head of the central bank if his nominated successor, Kevin Warsh, is not confirmed by the time his term is up in May, as dictated by the law.
Separately, Powell said he will not leave his Board of Governors position, which technically extends until early 2028, until the Department of Justice investigation of him is “well and truly over with transparency and finality.”
Powell said during his Wednesday press conference that he would serve as “chair pro tem” if Warsh, President Donald Trump’s pick to take over the role, has not been greenlighted by the Senate. That follows precent done in several past scenarios, Powell said.
His position on the Board of Governors is a separate from his chairmanship. Powell said he wouldn’t exit the board until the federal probe has been resolved, though he hasn’t decided if he would depart before his term ends. “I have not made that decision yet,” Powell said. “I will make that decision based on what I think is best for the institution and for the people we serve.”
Read more: https://www.cnbc.com/2026/03/18/powell-says-he-will-stay-on-as-head-of-the-fed-until-warsh-is-confirmed.html
= new reply since forum marked as read