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Powell states he has no intention of leaving the Federal Reserve before the investigation is over
Federal Reserve Chairman Jerome Powell stated on the 18th local time that he has no intention of leaving the Fed until the Department of Justice’s investigation into the Federal Reserve concludes transparently. Powell also said that if the nomination of the new Federal Reserve Chair is not confirmed by the Senate in a timely manner, he will serve as acting Chair in accordance with regulations until the new nominee is confirmed. Powell’s term as Fed Chair will expire in May, but his term as a Federal Reserve Board member will continue until the end of January 2028. U.S. President Donald Trump has officially nominated former Fed Director Kevin Woeh to serve as the next Chair. (CCTV News)