Jerome Powell Named Chair Pro Tempore of Federal Reserve

Jerome Powell has been appointed chair pro tempore of the Federal Reserve until Kevin Warsh assumes the role. No specific date for Warsh's swearing-in by President Trump is given. Powell will remain on the Board of Governors until the end of the criminal probe against him by the Trump administration.

Jerome Powell has been appointed as the Federal Reserve's chair pro tempore, following the expiration of his eight-year tenure as leader. This temporary appointment will hold until Kevin Warsh is sworn in as the new head of the U.S. central bank.

The exact date for Warsh's swearing-in by President Donald Trump has not been announced yet. Meanwhile, Fed board members Stephen Miran and Michelle Bowman expressed their disapproval of Powell's temporary status, criticizing the lack of a fixed time period.

Despite stepping down as chair, Powell has committed to remaining on the Fed's Board of Governors until President Trump's administration concludes its criminal investigation against him.