09:59:43 EDT Thu 30 Apr 2026
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Globe/AP say Citi, rivals hear Fed chair staying put

2026-04-30 07:20 ET - In the News

See In the News (C-CITI) Citigroup CDR (CAD Hedged)

The Globe and Mail reports in its Thursday, April 30, edition that Jerome Powell plans to remain on the board of the Federal Reserve after his term as chair ends next month "for an undetermined period of time." An Associated Press dispatch to The Globe reports that Mr. Powell said he worries the Trump administration is battering the Fed "and putting at risk the things that really matter to the public." Mr. Powell's decision to stay denies President Donald Trump a chance to fill a seat on the central bank's seven-member governing board with his own appointee. The Senate banking committee earlier approved Mr. Powell's successor as chair, Mr. Trump appointee Kevin Warsh, on a party-line vote. Mr. Powell is expected to remain a Fed governor until January, 2028. District Attorney Jeanine Pirro announced that her office is closing its investigation into the Fed's renovations, as the inspector-general will take over. However, she noted that the investigation could be reopened if necessary. Apparently that didn't bring Mr. Powell the closure he felt is needed. He said: "I'm waiting for the investigation to be well and truly over with finality. ... I'm waiting for that and I will leave when I think it appropriate to do so."

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