by Ben Whedon
Federal Reserve Chairman Jerome Powell on Wednesday confirmed that he planned to continue serving on the Board of Governors after he leaves the chairmanship.
Powell’s appointment to the board is set to last until January 2028. His term as chairman is set to expire in May. He did not, however, confirm plans to complete his term, saying he would remain “for a period of time to be determined,” The Hill reported.
Powell added that he would not leave the board until an investigation into the renovation of the Fed Reserve building was complete. U.S. Attorney Jeanine Pirro confirmed this month that she had ended the criminal probe into Powell.
“I’m encouraged by recent developments, and I’m watching the remaining steps in this process carefully,” he also said.
His remarks come as Kevin Warsh faces confirmation to serve as the next Fed chair.
Last week, the federal government ended its investigation into Powell over his alleged mishandling of the Federal Reserve’s budget for renovations to its building.
D.C. U.S. Attorney Jeanine Pirro said, “I have directed my office to close our investigation as the IG undertakes this inquiry. Note well, however, that I will not hesitate to restart a criminal investigation should the facts warrant doing so.”
“I expect a comprehensive report in short order and am confident the outcome will assist in resolving, once and for all, the questions that led this office to issue subpoenas,” she added.
– – –
Ben Whedon is a reporter for Just the News. Zachery Schmidt is the digital editor of The Star News Network and contributed to this story.
