Powell says he will stay on as head of the Fed until Warsh is confirmed

[BumRushDaShow]

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

[spanone]

1. K&R

[littlemissmartypants]

2. Thank you, gawd. I hope his health is excellent and says that way.

[Miguelito Loveless]

3. Clever...

Give the senate a reason to not confirm an idiot.

[maxsolomon]

4. Oh, they'll confirm him.

Not unanimously, but Warsh will be confirmed.

[LetMyPeopleVote]

5. I have no intention of leaving the board until the investigation is well and truly over with transparency and finality.

Link to tweet

[CountAllVotes]

6. Sanity Jerome Powell !!!!

& recommend.

[LetMyPeopleVote]

7. Powell has 'no intention of leaving' the Fed until Trump's DOJ probe is closed

A federal judge blocked subpoenas served to Fed Chair Jerome Powell and the bank because he found they had "essentially zero evidence" to back them up.

Link to tweet

https://www.nbcnews.com/business/economy/powell-fed-trump-doj-probe-rcna264173

Federal Reserve Chair Jerome Powell says he will not step down from the central bank's board until an investigation launched by President Donald Trump's Justice Department into Powell's congressional testimony last year is fully put to rest.

"I have no intention of leaving the board until the investigation is well and truly over with transparency and finality," Powell said Wednesday at a news conference in Washington, D.C.

Powell also left the door open to remaining on the board even if the probe ends and Trump's nominee to succeed him as chair, economist Kevin Warsh, is confirmed by the Senate.

"On the question of whether I will then continue to serve as a governor after my term ends and after the investigation is over, I have not made that decision yet," Powell told reporters at the Fed's headquarters. "I will make that decision based on what I think is best for the institution and for the people we serve."

Powell's announcement underscores the failure of a yearlong campaign led by Trump and his allies to push Powell out of the Federal Reserve and replace him with someone who is more closely allied with the president......

For more than a year now, Trump and his top allies have pressured Powell and other members of the central bank to cut interest rates more often. They have deployed a combination of social media bullying, tirades on cable news and allegations of wrongdoing, but they have little to show for their efforts.

On Wednesday, the Fed's Open Market Committee voted 11-1 to hold interest rates steady. The only dissenting vote in favor of a rate cut was Trump's nominee and former White House official, Stephen Miran.