politics
March 18, 2026
Powell says he will stay on as head of the Fed until Warsh is confirmed
Powell says he will keep serving as head of the central bank if his nominated successor is not confirmed.
TL;DR
- Jerome Powell will remain Federal Reserve Chair if his successor, Kevin Warsh, is not confirmed by the Senate.
- Powell will also stay on the Board of Governors until the Department of Justice investigation into him is concluded.
- A federal judge blocked grand jury subpoenas, stating the Justice Department did not have a proper purpose and had shared little evidence of Powell committing a crime.
- Critics believe the investigation is a politically motivated pressure campaign to lower interest rates or force Powell's resignation.
- The Fed recently kept interest rates unchanged due to inflation concerns and uncertainty surrounding the U.S.-Iran war.
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