Wednesday will likely be a momentous day for the future of the Federal Reserve as Chair Jerome Powell could signal he will stay with the Fed even as a Senate panel is expected to confirm his replacement.
Powell will preside over what will probably be his last meeting as chair and hold a news conference Wednesday afternoon, when he may say whether he will take the unusual step of remaining on the central bank’s board of governors, even after his term as chair ends May 15.
Separately, the Senate Banking Committee is scheduled to vote on the nomination of Kevin Warsh to succeed Powell. The nomination is expected to be approved on a party-line vote, and will then be taken up by the full Senate next month.
President Donald Trump nominated Warsh, a former top Fed official, in January. Last year, Warsh echoed Trump’s calls for the Fed to lower its key interest rate, leading many Democrats in Congress to question how independently he will operate as Fed chair.
The Fed is widely expected to​Wednesday will likely be a momentous day for the future of the Federal Reserve as Chair Jerome Powell could signal he will stay with the Fed even as a Senate panel is expected to confirm his replacement.
Powell will preside over what will probably be his last meeting as chair and hold a news conference Wednesday afternoon, when he may say whether he will take the unusual step of remaining on the central bank’s board of governors, even after his term as chair ends May 15.
Separately, the Senate Banking Committee is scheduled to vote on the nomination of Kevin Warsh to succeed Powell. The nomination is expected to be approved on a party-line vote, and will then be taken up by the full Senate next month.
President Donald Trump nominated Warsh, a former top Fed official, in January. Last year, Warsh echoed Trump’s calls for the Fed to lower its key interest rate, leading many Democrats in Congress to question how independently he will operate as Fed chair.
The Fed is widely expected to ​Latest News [ SOBAN NEWS: International and National ]
