Jerome Powell

NEWS ANALYSIS

As Fed holds rates steady, there are divisions over what the next moves will be

Outgoing chief Powell wants to stay on as a governor mainly as a guard dog for the central bank’s continued independence

Jerome Powell’s decision to stay will deny US President Donald Trump the opportunity to fill a new vacancy at the Fed and could complicate the job of Kevin Warsh.

Divided Fed officials hold rates; Powell to stay as governor

Fed chairs traditionally resign from the central bank altogether when their chair terms expire

In his hearing last week, Kevin Warsh blamed the Fed for allowing inflation to surge following the Covid-19 pandemic

Fed chair nominee Kevin Warsh wins key Senate Committee vote

The vote makes real the prospect of a Warsh-led Fed that promises the biggest shake up of the US central bank in years

A TV station broadcasting Fed chair Jerome Powell at a press conference; he is expected to keep rates unchanged at 3.5% to 3.75% this week.
NEWS ANALYSIS

End of an era – Fed’s Powell set to oversee final policy meeting by keeping rates steady

His successor Kevin Warsh is viewed as more responsive to the Trump administration

“The Office of Inspector General has the authority to hold the Federal Reserve accountable to American taxpayers,” US Attorney Jeanine Pirro said.

Justice Department drops investigation into Fed chair Powell, removing obstacle to Warsh

Attorney Pirro asks central bank’s internal watchdog to examine cost overruns in renovations

Kevin Warsh, US President Donald Trump's nominee to be next chair of the Federal Reserve, attends a Senate Banking Committee confirmation hearing on Capitol Hill in Washington, DC, on Apr 21.

Fed chair nominee Warsh calls for ‘regime change’ and new approach to inflation

Warsh’s confirmation faces delay due to dispute over Powell criminal probe

US President Donald Trump (left) said he would fire Fed chief Jerome Powell if he did not resign from the Fed after his term as chair ended.

Trump’s quest for more sway over Fed faces fresh hurdles

Jerome Powell’s term as chair of the Federal Reserve ends on May 15, but it appears increasingly likely that he will stay on in some capacity at the US central bank after that

Powell told reporters his decision to stay or go would ultimately be based on “what he thought was “best for the institution and for the people we serve”.

Trump threatens to fire Powell if he does not resign from Fed

Jerome Powell’s tenure as chair officially ends May 15

Federal Reserve chair Jerome Powell intends to remain in his role until his successor is confirmed, but has not indicated whether he plans to remain as a Fed governor.
THINKING ALOUD

The clock is ticking on the Fed’s leadership change

A Senate impasse, criminal probe and unusual political pressure mean the transition may not be clean or quick

Jerome Powell, whose last meeting as Fed chair comes at the end of April, sounded weary as he delineated the shocks that he has steered the US central bank through.
NEWS ANALYSIS

Fed will wait out war, monitor oil shock impact before acting on interest rates

The US central bank hinted that it may not cut rates until the fog from the Iran war has cleared