When will Jerome Powell depart as Fed Chair?
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Even though his term ended this Friday, Jerome Powell will remain chairman of the Fed until his successor Kevin Warsh is sworn in (despite protests from Donald Trump's allies).
Even though his term ended this Friday, Jerome Powell will remain chairman of the Fed until his successor Kevin Warsh is sworn in (despite protests from Donald Trump's allies).
Even though his term ended this Friday, Jerome Powell will remain chairman of the Fed until his successor Kevin Warsh is sworn in (despite protests from Donald Trump's allies).
The Federal Reserve Board said it has named Jerome Powell as chair pro tempore until Kevin Warsh is sworn in as the new head of the U.S. central bank.
The Federal Reserve on Friday named Jerome Powell the temporary chair of the Board of Governors until his successor Kevin Warsh is officially sworn in, the central bank said in a statement.
[#Powell's 8-Year Term Ends#, #What Legacy Did Powell Leave for the Fed#?] On May 15th, current Federal Reserve Chairman Jerome Powell's eight-year term will end. It is widely believed that his political legacy can be summarized in two points: combating persistently high inflation and maintaining the Fed's independence. Looking back over the past eight years, Powell's tenure has been more turbulent than most previous Federal Reserve chairs. He had to deal with unprecedented "alarm fires," such as the global pandemic and multiple geopolitical conflicts. He led the Fed through a regional banking crisis that triggered allegations of regulatory laxity and internal ethics scandals that led to the resignations of senior officials. Derek Tang, co-founder of policy analytics firm LH Meyer/monetary policy Analytics, said the story of the Federal Reserve’s independence—making interest rate and monetary policy decisions based on economic data rather than political pressure from the White House—may still be in its “first chapter.” Vincent Reinhart, a former senior Federal Reserve official and now chief economist at BYN Investments, said it's not uncommon for the legacy of Federal Reserve chairmen to take years to fully materialize after leaving office; for example, market assessments of former Fed Chairman Alan Greenspan's political legacy have changed dramatically since the initial assessments. "Therefore, I never rush to rate a Fed chairman; perhaps five or ten years later would be more appropriate," he said. [Link to webpage]
Jerome Powell's last day as chairman of the United States Fed is • • THIS FRIDAY
Jerome Powell's last day as chairman of the United States Fed is • • THIS FRIDAY
National Economic Council Director Kevin Hassett said Monday that he expects Federal Reserve Chair Jerome Powell to leave the central bank's Board of Governors if he is "happy" with a forthcoming internal report on the Fed’s renovations.
One important bit of context: Last July, Pulte claimed Powell was "considering resigning" as Fed chair, citing bogus reports. Powell never resigned, is finishing his term as chair next Friday, and has announced his intention to stay on the Fed's board as a governor in large part because of concerns that the administration is trying to undermine the Fed's operational autonomy, including through the dynamic observed with Cook.
Fed Chair Jerome Powell is on his last few days as head of the US central bank, with his term expiring May 15. • • In a press conference this afternoon (his final appearance as Fed chair) he said that he will stay on as governor for a brief period: • • To which Trump reacted with:
Powell defies Trump to stay on Fed board
Powell vows to stay at Fed as a governor
Don't think Trump's going to be happy about this one... • • Outgoing Fed Chairman Jerome Powell said at his press conference today that he will remain on the Federal Reserve Board of Governors after his chairmanship ends on May 15. • • "I plan to keep a low profile as a governor. There is only ever one chair of the Federal Reserve Board. When Kevin Warsh is confirmed and sworn in, he will be that chair." • • "I will not leave the board until this investigation is fully resolved with transparency and finality. I’m encouraged by recent developments and I am watching the remaining steps in this process carefully. My decisions on these matters will continue to be guided entirely by what I believe is in the best interest of the institution and the people we serve."
Takeaways from Powell’s final news conference as Fed chair.
Takeaways from Powell’s final news conference as Fed chair.
POWELL CONCLUDES HIS FINAL PRESS CONFERENCE AS FED CHAIR. ...
POWELL CONCLUDES HIS FINAL PRESS CONFERENCE AS FED CHAIR. ...
Fed's Powell concludes final news conference as Fed chair.
Fed's Powell concludes final news conference as Fed chair.
US Federal Reserve Chairman Jerome Powell: I will remain in my position after my term ends on May 15 for a period to be determined later.
POWELL CONCLUDES HIS FINAL PRESS CONFERENCE AS FED CHAIR.
POWELL CONCLUDES HIS FINAL PRESS CONFERENCE AS FED CHAIR.
Fed chair Jerome Powell says he will stay on as Govenor after term amid legal pressure. • During a press conference following the Fed's interest rate decision, Powell said ongoing scrutiny and political tension forced him to stay, despite his plans to step down.
Fed chair Jerome Powell says he will stay on as Govenor after term amid legal pressure. • During a press conference following the Fed's interest rate decision, Powell said ongoing scrutiny and political tension forced him to stay, despite his plans to step down.
Fed chair Jerome Powell says he will stay on as Govenor after term amid legal pressure. • During a press conference following the Fed's interest rate decision, Powell said ongoing scrutiny and political tension forced him to stay, despite his plans to step down.
Federal Reserve Chair Jerome Powell stated he will depart when appropriate, expressing concern over legal attacks that jeopardize the Fed's ability to conduct monetary policy independently. • • More Here →
BREAKING: • • Jerome Powell says he'll remain on the Fed board as a governor — at least until the resolution of legal challenges Trump has mounted against the central bank. • • Powell's term allows him to remain at the Fed until 2028, but for decades, Fed chairs have left the building when their successor is installed.
What is this event about?
This market will resolve according to the listed date range during which Jerome Powell vacates his role as Chair of the Federal Reserve Board of Governors.
Vacating his role refers to Powell actually ceasing to hold the position of Chair of the Federal Reserve Board of Governors. Announcements of Powell's resignation or firing will not alone qualify.
The scheduled end of Powell’s term as Chair will not alone qualify. If Powell continues to serve as Chair on a temporary basis (e.g. until the confirmation of his successor), he will not be considered to have vacated his role as Chair.
This market is restricted to Powell’s status as Chair of the Federal Reserve Board of Governors. Powell’s status as a regular member of the Federal Reserve Board of Governors will not affect this market’s resolution.
All dates refer to the Eastern Time zone (ET).
The primary resolution source for this market will be official information from Jerome Powell and the Federal Reserve; however, a consensus of credible reporting may also be used.