Powell to Remain as Fed Governor, Warsh Advances to Full Senate Vote

Federal Reserve Chair Jerome Powell has stated he will continue serving at the central bank, citing ongoing legal threats against him and the Federal Reserve. This development follows a report from the Bloomberg that he will serve on as a governor after his term as chair ends .

The move has been prompted by concerns over his safety and the central bank's autonomy, with Republican Senator Thom Tillis describing a Department of Justice investigation as 'bogus' and a threat to the Fed's independence on monetary policy .

Meanwhile, Kevin Warsh, nominated by President Trump to replace Powell as Fed chair, has cleared the key hurdle in the Senate confirmation process, securing 13-11 party-line vote from the Senate Banking Committee . The full Senate vote on his nomination is set to take place before Powell's term ends on May 15.