Jerome Powell remains interim Fed chair during Kevin Warsh transition
Business
Jerome Powell's term as Federal Reserve chair ended on Friday, May 15, 2026, but he's sticking around for a bit longer.
He'll be the interim boss until Kevin Warsh (who was confirmed by the Senate this week) completes the financial paperwork and gets officially sworn in.
So, Powell is keeping things steady at the Fed while Warsh gets ready to take over.
Fed board keeps Powell temporarily 5-1
The Fed's board voted five-to-one to keep Powell in charge temporarily, though not everyone was on board.
Governor Stephen Miran voted no, and Vice Chair Michelle Bowman abstained, both saying they'd prefer this arrangement only last a week and no more than a month.
If Warsh takes longer to step in, they want another board vote or presidential action to keep things fair.