Jerome Powell to Remain US Fed Chair Until Kevin Warsh's Official Confirmation
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Powell to Stay as Fed Chair Until Warsh Confirmed, Cites DOJ Probe
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CNBC TV18•19-03-2026, 06:46
Powell to Stay as Fed Chair Until Warsh Confirmed, Cites DOJ Probe
•Jerome Powell will remain US Fed Chair until Kevin Warsh is officially confirmed, even if his term expires in May.
•Powell also stated he will stay on the Board of Governors until the Department of Justice's investigation into him is concluded with transparency and finality.
•He clarified that he would serve as chair pro tem if his successor isn't confirmed by the end of his term, citing legal precedent.
•President Donald Trump nominated Kevin Warsh, but Senate confirmation is pending, likely awaiting the DOJ investigation's completion.
•The Fed kept interest rates unchanged due to inflation concerns and uncertainty from the US-Iran war.
