Fed Chair Jerome Powell Says He Could Stay if Successor Is Unconfirmed
Powell said he may remain Federal Reserve chair past May 15 if no successor is confirmed, and added that he will stay on the Fed Board while a Justice Department investigation continues.
Fact Check
The statement is corroborated by multiple news reports from March 18, 2026 (the current date in the provided context). Reuters and US News specifically quote Powell saying he will stay until a successor is confirmed. The political context regarding Kevin Warsh's nomination and the blockade by Senator Thom Tillis is also well-documented in reports leading up to this date.
Summary
Federal Reserve Chair Jerome Powell said he could remain in the chair role beyond May 15 if his successor is not confirmed in time. He also said he would not leave the Federal Reserve Board while a Justice Department investigation is ongoing. Powell noted that he can continue serving as a Fed governor until 2028, clarifying that his role at the central bank could extend beyond the scheduled end of his chair term.
Terms & Concepts
- Federal Reserve: The central bank of the United States, responsible for monetary policy, banking oversight, and financial stability.