Powell says he will stay on as head of the Fed until Kevin Warsh is confirmed

Federal Reserve Chair Jerome Powell said he will continue serving as Fed chair if his nominated successor, Kevin Warsh, is not confirmed by the time Powell's term expires in May, as required by law. The comment provides near-term leadership continuity and reduces immediate uncertainty around Fed governance, while leaving the political confirmation risk intact. Absent changes to policy guidance, this development is unlikely to materially alter monetary policy expectations.

Analysis

Federal Reserve Chair Jerome Powell said he will continue serving as Fed chair if his nominated successor, Kevin Warsh, is not confirmed by the time Powell's term expires in May, as required by law. The comment provides near-term leadership continuity and reduces immediate uncertainty around Fed governance, while leaving the political confirmation risk intact. Absent changes to policy guidance, this development is unlikely to materially alter monetary policy expectations.