WSJ Chief Economics Reporter on What Comes Next for the Fed After Powell

Jerome Powell said he will remain on the Fed's board after Kevin Warsh becomes chair, following the central bank's decision to extend its interest-rate pause. The update is primarily relevant to monetary policy continuity and Fed governance, with no new rate change announced. Market impact is elevated because any change in Fed leadership can influence expectations for future policy and yields.

Analysis

Jerome Powell said he will remain on the Fed's board after Kevin Warsh becomes chair, following the central bank's decision to extend its interest-rate pause. The update is primarily relevant to monetary policy continuity and Fed governance, with no new rate change announced. Market impact is elevated because any change in Fed leadership can influence expectations for future policy and yields.