Powell to Stay on Fed Board as Warsh Advances Toward Confirmation
Powell will remain a Fed governor after his chair term ends on May 15 as the Fed holds rates at 3.5%–3.75% and Kevin Warsh moves toward confirmation.
Fox BusinessPowell says he'll stay on Fed board after chairmanship ends but won't be a 'shadow Fed chair'
Straight Arrow NewsFed keeps interest rates unchanged. What does that mean for you?
PBS NewsHourPowell says he will stay on Fed board after chair term ends, addressing Trump’s attacks
SemaforWarsh heads straight for Trumpâs Fed pressure cooker
Overview
Jerome Powell said he will remain on the Federal Reserve Board of Governors after his chair term ends on May 15.
The Federal Open Market Committee left the federal funds rate at 3.5% to 3.75% and cited elevated inflation tied to higher global energy prices amid the Iran war.
Jeanine Pirro said on April 24 that her office would end the criminal probe into Powell’s oversight of Fed headquarters renovations.
The Senate Banking Committee advanced Kevin Warsh’s nomination on Wednesday in a party-line vote, moving him toward a full Senate confirmation before Powell’s term ends.
Three to four FOMC members dissented from the policy statement’s easing bias, underscoring divisions over the timing of future rate cuts.
Analysis
Center-leaning sources frame the coverage as a defense of Fed independence by emphasizing editorial language and selective emphasis. Editorial framing uses loaded terms like 'battering' and 'legal assaults', foregrounds Powell's quote about not leaving 'until this investigation is well and truly over', while source content includes Tombs' forecast of delayed rate cuts.