Powell Says No Plans to Leave Fed Until Investigation Over

<p>The people, companies and trends shaping the global economy.</p> <p>Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.</p> <p>Federal Reserve Chair Jerome Powell said he plans to stay at the central bank until after the Justice Department&rsquo;s investigation is complete.</p> <p>&ldquo;I have no intention of leaving the board until the investigation is well and truly over, with transparency and finality,&rdquo; Powell said Wednesday at a press conference.</p> <p>His comments marked the first time Powell has given any public indication that he intends to continue serving his term as a governor, which runs until 2028, after his term as chair expires in May. Speculation he would do so has increased in recent months amid a government probe into the US central bank.</p> <p>The DOJ in January issued subpoenas to the Fed as part of an investigation into cost overruns in a building renovation project. In a statement at the time, Powell called the reasons for the investigation pretexts and said the probe was really triggered by the Fed&rsquo;s refusal to set interest rates based on President Donald Trump&rsquo;s demands.</p> <p>The subpoenas were blocked by a federal judge earlier this month, but the DOJ said it would appeal that decision.</p> <p>Today's show features:</p> <ul> <li>Greg Peters, Co-Chief Investment Officer and PGIM Fixed Income</li> <li>Kalshi CEO Tarek Mansour and reaction from Bloomberg Cross Asset Reporter Denitsa Tsekova</li> <li>Hendi Susanto, Portfolio Manager of Technology at Gabelli Funds on Micron Earnings</li> <li>Jennifer Welch, Bloomberg Economics Chief Geoeconomics Analyst, on where China stands amidst the Iran War</li> </ul><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>