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00:02Federal Reserve Chair Jerome Powell said he will remain in his role until a successor is confirmed
00:07and will not leave the institution until a Justice Department criminal investigation
00:11into the central bank is resolved. According to Reuters, Powell said he would serve as
00:16chair pro tem if no successor is confirmed by the end of his term in May.
00:20Trump nominated former Fed Governor Kevin Warsh to succeed Powell, but the Senate has not confirmed
00:25him. Senator Tom Tillis, a Republican member of the Senate Banking Committee, said the
00:30confirmation will not proceed until the probe concludes. A judge quashed subpoenas tied to
00:35the case, but a Justice Department official said the ruling will be appealed. Powell said
00:39he intends to remain on the board until the investigation ends.
00:42For all things money, visit Benzinga.com.
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