financetom
Economy
financetom
/
Economy
/
Fed names Powell as chair pro tempore until Warsh is sworn in
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Fed names Powell as chair pro tempore until Warsh is sworn in
May 15, 2026 6:09 PM

WASHINGTON, May 15 (Reuters) - The Federal Reserve Board on Friday said it has named Jerome Powell as chair pro tempore until Kevin Warsh is sworn in as the new head of the U.S. central bank.

-- Warsh is expected to be sworn in soon by U.S. President Donald Trump but no date has been announced.

-- Powell's eight-year run as Fed leader formally expired on Friday.

-- Fed board members Stephen Miran and Michelle Bowman said in a joint statement they did not support the measure that keeps Powell as chair because it does not include a fixed time period for his temporary status.

-- Although Powell is stepping down as chair, he has said he will stay on the Fed's Board of Governors until he is satisfied the Trump administration has ended its criminal probe of him.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Former Fed officials say size may not matter on balance sheet
Former Fed officials say size may not matter on balance sheet
May 18, 2026
AMELIA ISLAND, Florida, May 18 (Reuters) - Veterans from the U.S. Federal Reserve's past crisis-fighting efforts on Monday said incoming Chair Kevin Warsh should focus less on the central bank's balance-sheet size and more on guidelines for how to use it in response to future financial and economic shocks. The Fed's $6.7 trillion balance sheet, much of it in holdings...
Daily Roundup of Key US Economic Data for May 18
Daily Roundup of Key US Economic Data for May 18
May 18, 2026
03:06 PM EDT, 05/18/2026 (MT Newswires) -- The National Association of Home Builders Housing Market Index rose to 37 in May from 34 in April and 34 a year ago. NAHB said buyers are still facing rising mortgage rates and economic uncertainty, while elevated costs for land, labor and construction are further obstacles to builders. The New York Federal Reserve's...
Fed's Warsh has a difficult boss and tough job ahead, says StanChart CEO Winters
Fed's Warsh has a difficult boss and tough job ahead, says StanChart CEO Winters
May 19, 2026
HONG KONG, May 19 (Reuters) - Incoming Federal Reserve chair Kevin Warsh faces both a tough environment and a difficult boss, Standard Chartered ( SCBFF ) CEO Bill Winters said on Tuesday, pointing to political pressure on Warsh to cut rates even as inflation remains high. Inflation is stubbornly high and unlikely to come down, but he's got the political...
Warsh to be sworn in as Fed chair at White House on Friday
Warsh to be sworn in as Fed chair at White House on Friday
May 18, 2026
WASHINGTON, May 18 (Reuters) - Kevin Warsh will be sworn in as U.S. Federal Reserve chief on Friday by President Donald Trump, a White House official said on Monday, capping off the process of installing the 56-year-old lawyer and financier at the helm of the central bank as it grapples with intensifying inflation that may make it hard to push...
Copyright 2023-2026 - www.financetom.com All Rights Reserved