Williams Says Powell Will Lead FOMC Amid Succession Delay
New York Fed President John Williams said Jerome Powell will lead the FOMC if Kevin Warsh is not confirmed by May. He noted no concerns regarding continuity.
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Federal Reserve Bank of New York President John Williams stated on Tuesday that the leadership of the central bank's primary monetary policy body remains secure, even as the confirmation of a new chair faces significant delays. Williams dismissed concerns regarding a potential vacuum at the top of the Federal Open Market Committee (FOMC), asserting that current Chair Jerome Powell will continue to lead the United States central bank’s interest-rate-setting functions until a successor is formally seated.
"Theres no issue of continuity. Theres no issue of anything when it comes to the leadership of the central bank’s interest-rate-setting Federal Open Market Committee," Williams said during an interview on Bloomberg television.
