Powell will remain on Fed board until DOJ probe is over

BREAKING NEWSUpdated 17 minutes agoEconomyEconomyJerome Powell, whose term as Fed chair is ending, will remain on the board until DOJ probe is overThe outgoing Federal Reserve chair said he plans to keep a "low profile" as a governor after his successor, Kevin Warsh, takes over.Listen to this article with a free account00:0000:00Federal Reserve Chair Jerome Powell speaks at a news conference at the Federal Reserve in Washington, D.C., on Wednesday.Cliff Owen / APShareAdd NBC News to GoogleApril 29, 2026, 2:45 PM EDT / Updated April 29, 2026, 2:52 PM EDTBy Allie CanalFederal Reserve Chair Jerome Powell made it clear Wednesday he’s not going anywhere just yet. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content.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. “My concern is really about the series of legal attacks on the Fed which threaten our ability to conduct monetary policy without considering political factors,” he said, alluding to the Justice Department's criminal probe against him, which has since been dropped. Still, the DOJ has said it would reopen the investigation if warranted. "I've said that I will not leave the board until this investigation is well and truly over with transparency and finality, and I stand by that," Powell said.“And I want to note here, this has nothing whatever to do with verbal criticism by elected officials. I’ve never suggested that such verbal criticism is a problem, and neither has anyone else here, but these legal actions by the administration are unprecedented in our 113-year history, and there a...