Jerome Powell

The legacy of Jay Powell at the Fed

The outgoing chair has made some mistakes, but his decision to stand up to Trump was heroic

Kevin Warsh will take office as fellow governors contemplate raising rates to tame inflation brought on by Trump’s war on Iran.

Trump will swear in Kevin Warsh on May 22 to lead US Federal Reserve

Warsh will serve a four-year term as chair and a 14-year term as a Fed governor

Jerome Powell’s four-year term as chair ends on Friday.

Fed names Powell chair pro tempore until Warsh sworn in

The incoming Fed chief has pledged to divest sizeable financial assets before taking office

Under Jerome Powell, the Fed financed all its activities by expanding its balance sheet, which exceeded US$7 trillion by May 2020.

‘A Fed chair with a spine’: A look back at Jerome Powell’s tenure as US central bank chief

He helped the US economy navigate one of the most tumultuous periods of its history

Kevin Warsh will replace Jerome Powell, whose term as chair ends May 15.

Trump nominee Kevin Warsh confirmed as Fed chair

President Donald Trump has repeatedly attacked the Fed for not lowering interest rates as aggressively as he would like

Fed chair Jerome Powell leaves behind a solid but turbulent US economy with a stagnant jobs market, rising inflation and a board that is split.
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