US EditionPowell says no plans to leave Fed until DOJ investigation concludes
Jerome Powell will stay as Federal Reserve chair until DOJ's criminal probe into Fed renovation and successor confirmation concludes, delaying President Trump's replacement plans.
- On Wednesday, the Federal Reserve maintained short-term interest rates at about 3.6%, while Federal Reserve Chair Jerome Powell stated he intends to serve as 'chairman pro tempore' until his successor, Kevin Warsh, is confirmed.
- President Donald Trump nominated Warsh to replace Powell, whose term ends May 15. Powell vowed he has 'no intention' of leaving the central bank until a Justice Department investigation related to his testimony is 'truly over.'
- Officials project inflation reaching 2.7% this year amid uncertainty from the Iran war, with policymakers forecasting only one rate cut for 2026. The unemployment rate ticked to 4.4%, with businesses shedding 92,000 jobs in February.
- Senator Thom Tillis is blocking Warsh's confirmation, asserting the criminal investigation of Powell is a pretext to influence interest rates. Meanwhile, prosecutors plan to appeal a ruling that quashed recent subpoenas.
- The mixed labor market signals—job losses offset by low unemployment projections—complicate the Fed's path forward as it weighs inflation pressures from the Iran war against economic cooling. Powell's tenure extension hinges on Warsh's Senate confirmation.
115 Articles
115 Articles
Washington, 19 Mar (EFE).- US president Donald Trump insisted this Thursday that the outgoing president of the Federal Reserve, Jerome Powell, is under investigation because of the high cost of the reforms of the headquarters of the central bank, after Powell communicated his intention to continue in office until the investigations against him are completed. “It is under investigation because it is building a building that will cost hundreds of …
The Daily News
DOJ investigation into Powell could backfire on Trump and keep Fed chair in office
President Donald Trump has for months wanted to remove Jerome Powell as chair of the Federal Reserve. But instead, an investigation by one of his own officials could end up extending Powell’s time at the top of the central bank…
Powell digs in at Fed in defiance of Trump, says he'll stay on as 'chair pro tem' · American Wire News
Federal Reserve Chair Jerome Powell revealed he will stay on at the institution if his successor is not confirmed, as the central bank voted this week to keep interest rates unchanged. Despite ongoing criticism from President Donald Trump, who has repeatedly demanded that the Fed lower interest rates, the Federal Open Market Committee (FOMC) voted on Wednesday to keep the rates steady at 3.5% to 3.75%, CNBC reported. BREAKING: The Federal Reser…
Fed Chair Jerome Powell says he won't leave bank until DOJ probe is over
Federal Reserve Chair Jerome Powell said Wednesday he would not step down as leader of the central bank until his successor is confirmed and would not leave the bank's board of governors until the Trump administration concludes its criminal investigation. During a Wednesday press conference, Powell confirmed that he would stay on the Fed board [...]
Trump started a battle with Jerome Powell, but the Fed chairman is winning the war: He won't leave until probe is 'well and truly over'
When Donald Trump turned his attention to the U.S. central bank, and attacked Jerome Powell at its helm, he didn’t think that would be the reason Powell may ultimately stay in position longer than expected.Trump has nominated former Federal Reserve Governor Kevin Warsh to serve as the central bank’s next chairman. However, Warsh’s progression through the approval process faces a snag: A Department of Justice investigation into Powell, related to…
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