Jerome Powell will remain Fed chair until successor confirmed
Federal Reserve Chair Jerome Powell will stay as leader if his successor is not confirmed by May. He noted this follows legal protocol and past precedents.
Jerome Powell, the Chair of the Federal Reserve, confirmed on Wednesday that he will continue to lead the central bank if his successor is not confirmed by the time his current term expires in May. Speaking during a press conference in the United States following the latest policy meeting, Powell addressed the potential for a leadership gap should the confirmation process extend beyond his official term end. Powell explained that he would assume an interim role to ensure continuity at the head of the nation's monetary authority. > "If my successor is not confirmed by the end of my term as chair, I would serve as chair pro-tem" until a successor is confirmed. The Chair noted that this procedure is mandated by law and has been utilized during previous transitions at the Federal Reserve, including his own past experience. > "That is what the law calls for and that’s what we’ve done on several occasions, including involving me, and that’s what we’re going to do in this situation."
