Jerome Powell stated he will continue to serve as acting chair if Kevin Warsh is not confirmed by May 15, following precedent. Regarding the Department of Justice investigation, Powell indicated he has no intention of leaving the board until the investigation concludes, though he has not decided on his departure post-investigation. Additionally, Powell noted a significant shift in rate cut expectations in the Summary of Economic Projections (SEP), but downplayed its relevance, citing limited significance in the current environment.
Powell to Continue as Acting Chair if Warsh Confirmation Delayed
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