Powell will remain on Fed board until DOJ probe is over

Federal Reserve Chair Jerome Powell made it clear Wednesday he’s not going anywhere just yet.

Federal Reserve Chair Jerome Powell made it clear Wednesday he’s not going anywhere just yet.

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After the Fed once again held interest rates steady, Powell told reporters he plans to remain on the Board of Governors, even as he prepares to hand over the chairmanship to Kevin Warsh next month. He said he plans to maintain a “low profile” as a governor, but it will be the first time since 1948 that a Fed chair has stayed on at the end of their chairmanship.

"I will leave when I think it's appropriate to do so," Powell said.