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Powell Says No Plans to Leave Fed Until Investigation Over | Bloomberg Businessweek
Posted
March 19, 2026
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March 19, 2026
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Federal Reserve Chair Jerome Powell said he plans to stay at the central bank until after the Justice Department’s investigation is complete.
“I have no intention of leaving the board until the investigation is well and truly over, with transparency and finality,” Powell said Wednesday at a press conference.
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.
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’s refusal to set interest rates based on President Donald Trump’s demands.
The subpoenas were blocked by a federal judge earlier this month, but the DOJ said it would appeal that decision.
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