Powell Says He Will Remain as Fed Chair Until Successor Is Confirmed

Federal Reserve Chair Jerome Powell stated he will remain in his position until a successor is confirmed by the Senate and until a criminal investigation into his handling of renovations at the central bank concludes. Powell's announcement addresses questions about his tenure amid the ongoing probe into the renovation process. The dual conditions he set mean his departure timeline is now tied to both the Senate confirmation process for a replacement chair and the resolution of the criminal investigation. This stance comes as the Trump administration and Congress may be evaluating leadership at major federal agencies. Powell's insistence on remaining through both proceedings suggests he intends to maintain continuity at the Fed despite the scrutiny over his handling of the renovation matter.