Powell to Stay as Fed Chair Until Warsh Confirmed, Cites DOJ Probe

• Jerome Powell will remain US Fed Chair until Kevin Warsh is officially confirmed, even if his term expires in May.
• Powell also stated he will stay on the Board of Governors until the Department of Justice's investigation into him is concluded with transparency and finality.
• He clarified that he would serve as chair pro tem if his successor isn't confirmed by the end of his term, citing legal precedent.
• President Donald Trump nominated Kevin Warsh, but Senate confirmation is pending, likely awaiting the DOJ investigation's completion.
• The Fed kept interest rates unchanged due to inflation concerns and uncertainty from the US-Iran war.