Powell: "No resignation before the Justice Department investigation…will serve until my successor is confirmed"

JH Kim

Summary

Chair Jerome Powell said he has no intention of resigning in connection with the Justice Department investigation.
Powell said he has not yet decided whether he will remain in the post after the Justice Department investigation.
Powell said that if confirmation of the next Fed chair is not completed before his term ends, he will serve as acting chair.

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Jerome Powell, chair of the US Federal Reserve (Fed), said he has no intention of stepping down in connection with the Justice Department investigation.

According to CNBC on the 18th (local time), Powell told a press conference, "I have no intention of leaving the Board before the Justice Department investigation is concluded," adding, "I have not yet decided whether I will remain in the position after the investigation."

He continued, "If the confirmation of the next Fed chair is not completed before my term ends, I will serve as acting chair."

The remarks are seen as signaling an intention to maintain policy continuity for the time being, as uncertainty surrounding the Fed’s leadership persists.