MW Powell delivers his most definitive answer yet on how long he'll stay on as Fed chair

By Greg Robb and Victor Reklaitis

Federal Reserve Chair Jerome Powell speaks during a press conference Wednesday.

Federal Reserve Chair Jerome Powell said Wednesday that he will stay on as "chair pro tem" if his presumed successor Kevin Warsh is not confirmed by mid-May, when Powell's term expires.

Warsh has been picked by President Donald Trump to be the next Fed chief, but his nomination is stuck as Republicans don't have the votes to confirm him as long as the Trump administration's Justice Department is investigating the Fed and Powell. Republican Sen. Thom Tillis of North Carolina has been declining to back Warsh until the probe is resolved, and his objection is enough to hold up the confirmation process.

"If my successor is not confirmed by the end of my term as chair, I would serve as chair pro tem until he is confirmed," Powell told reporters.

"That is what the law calls for. That's what we've done on several occasions, including involving me, and it's what we're gonna do in this situation."

Last week, a federal judge threw out a pair of subpoenas that the DOJ issued to the Fed, dealing a blow to the U.S. attorney for the District of Columbia's investigation into Powell. That attorney, Trump ally Jeanine Pirro, has said she'll appeal the decision, but Tillis has warned that appealing will delay Warsh's confirmation.

Powell also told reporters on Wednesday that he has "no intention" of leaving the Fed's board of governors "until the investigation is well and truly over, with transparency and finality." Powell can stay on that board until early 2028, even after his term as chair ends.

What about Powell's plans once Warsh is in place and the DOJ's probe is resolved? The current Fed chief said he hadn't decided on that front yet.

"On the question of whether I will then continue to serve as a governor after my term ends and after the investigation is over, I have not made that decision yet, and I will make that decision based on what I think is best for the institution and for the people we serve," he said.

-Greg Robb -Victor Reklaitis

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March 18, 2026 15:26 ET (19:26 GMT)

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