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Trump could be stuck with Powell as 'shadow Fed chair' due to Pirro's failures: report
Jerome Powell is not going to leave office until these silly charges are finally dismissed.
Donald Trump's attempt to force Federal Reserve Chair Jerome Powell out of office appears destined to backfire spectacularly, with the botched criminal prosecution potentially extending Powell's stay rather than shortening it.
— Raw Story (@rawstory.com) 2026-03-22T22:00:10Z
https://www.rawstory.com/trump-powell-2676572479/
Donald Trump's attempt to force Federal Reserve Chair Jerome Powell out of office appears destined to backfire spectacularly, with the botched criminal prosecution potentially extending Powell's stay rather than shortening it.
According to reporting from Yahoo Finance's Jennifer Schonberger, the failed prosecution effort has been complicated further by the possibility that Powell's successor, Kevin Warsh—Trump's nominee for the position—could remain stuck in confirmation limbo indefinitely.
Powell made clear this past week that he intends to serve as the Fed's chair pro tempore if Warsh fails to win Senate confirmation before Powell's term expires in May. "That is what the law calls for," Powell told reporters Wednesday, pointing to historical precedent for such arrangements, including his own delayed confirmation to a second term under former President Joe Biden.
Powell also announced for the first time that he will not resign from the Federal Reserve's Board of Governors until the Justice Department investigation targeting him personally is fully resolved. "I have no intention of leaving the board until the investigation is well and truly over with transparency and finality," he said following the Fed's policy meeting.
The legal warfare intensified in January when D.C. U.S. Attorney Jeanine Pirro's Justice Department launched a criminal probe into Powell's congressional testimony regarding cost overruns on renovations to the Fed's Washington headquarters.
According to reporting from Yahoo Finance's Jennifer Schonberger, the failed prosecution effort has been complicated further by the possibility that Powell's successor, Kevin Warsh—Trump's nominee for the position—could remain stuck in confirmation limbo indefinitely.
Powell made clear this past week that he intends to serve as the Fed's chair pro tempore if Warsh fails to win Senate confirmation before Powell's term expires in May. "That is what the law calls for," Powell told reporters Wednesday, pointing to historical precedent for such arrangements, including his own delayed confirmation to a second term under former President Joe Biden.
Powell also announced for the first time that he will not resign from the Federal Reserve's Board of Governors until the Justice Department investigation targeting him personally is fully resolved. "I have no intention of leaving the board until the investigation is well and truly over with transparency and finality," he said following the Fed's policy meeting.
The legal warfare intensified in January when D.C. U.S. Attorney Jeanine Pirro's Justice Department launched a criminal probe into Powell's congressional testimony regarding cost overruns on renovations to the Fed's Washington headquarters.
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