Powell Says He’ll Stay at Fed Until Successor Comfirmed

“Jerome H. Powell said Wednesday that he would remain at the helm of the Federal Reserve after the expiration of his term as chair in mid-May, as long as his successor has not yet been confirmed by the Senate,” the Washington Post reports.

“That is the opposite outcome that President Donald Trump has been pushing for. For months, Trump has waged an unusually aggressive campaign against Powell — publicly demanding steep interest rate cuts and at times threatening to try to remove Powell before his term expired.”

Wall Street Journal: “Powell’s term as chair ends May 15, but he can stay on the board after that because he is separately confirmed to a 14-year term there that runs until early 2028. Fed chiefs rarely stay on the board after their chairmanship ends.”