Jerome Powell will hold the temporary designation until Kevin Warsh officially becomes the Fed’s 17th chair.

As Powell steps down after more than eight years leading the Federal Reserve, economists say he helped steer the U.S. through historic shocks but misread inflation.

Paring down the central bank's balance sheet, or doing nothing at all, poses potentially dire consequences for the stock market.

The Senate confirmed Kevin Warsh as Federal Reserve Chair in a 54–45 vote. Warsh will replace Jerome Powell, whose term as Chair ends on May

National Economic Council Director Kevin Hassett said Monday that he expects Federal Reserve Chair Jerome Powell to leave the central bank’s board of governors if he is “happy” with a forthcoming internal report on the Fed’s renovations,