Breitbart
John Williams, the head of the Federal Reserve Bank of New York, on Tuesday said he supported Fed chairman Jerome Powell’s plan to remain in charge of the central bank until a successor is confirmed.
Powell’s term as chair of the Fed’s board of governors ends on May 15. President Trump has nominated former Fed official Kevin Warsh to succeed him but his confirmation may be delayed because a key U.S. Senator, Republican Thom Tillis of North Caroline, has said he will not vote to approve the confirmation until the Justice Department drops its investigation of Powell and the Fed. Democrats have also indicated they will not vote for Warsh while the investigation continues.
Last month, Powell claimed, without evidence, that he can continue to lead the Fed until a new chair is formally in place. He also said he will not leave the Fed board until the investigation into his handling of renovations of the Fed’s headquarters is “well and truly over, with transparency and finality.” Powell’s board seat technically does not expire until January of 2028 but, with one exception, outgoing chairs have always stepped down from the board as well.
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