From NBC News: 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 said if Warsh is not confirmed by May 15, when his term ends, he intends to serve as chair pro tempore until Warsh is confirmed.
WATCH:
Powell: I have no intention of leaving the board until the investigation is well and truly over with transparency and finality… pic.twitter.com/S7ttrqSIr3
— Acyn (@Acyn) March 18, 2026
On Wednesday, Powell announced there would be no change in the interest rate for this month.
The Federal Reserve on Wednesday left its benchmark interest rate unchanged, marking the central bank’s second consecutive pause in 2026.
Fed Chair Jerome Powell said in his announcement that “the implications of developments in the Middle East for the U.S. economy are… pic.twitter.com/O64JhpwC4K
— CBS News (@CBSNews) March 18, 2026
FED CHAIR JEROME POWELL in press conference this afternoon: “I have no intention of leaving the board until the investigation is well and truly over with transparency and finality.”https://t.co/NN5gXO9OVt
— Gary Grumbach (@GaryGrumbach) March 18, 2026
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