Federal Reserve Chair Jerome Powell on Wednesday said that he has no intention to leave the board unless the investigation is completely over. He further added that he would serve as Chair pro-term until a successor is confirmed.
"On the question whether I will leave while the investigation is ongoing, I have no intention of leaving the board until the investigation is well and truly over with transparency and finality,” he said during the Fed meet press conference on Wednesday.
This comes as the Fed is preparing for leadership change as Powell's term ends in May. He will be replaced by Kevin Warsh, nominated by Trump.
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Trump has been pushing for larger rate cuts by the Fed, arguing that it is needed to stimulate the economy. On Wednesday, before the Fed announced his decision he asked the same question on when he will reduce the interest rates.
This is a developing story.
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