Powell Named Interim Fed Chair, Warsh Awaits Inauguration
The Federal Reserve Board of Governors on Friday (May 15) appointed Jerome Powell as chair pro tempore until Kevin Warsh is officially inaugurated as the new chairman of the US central bank. This appointment ensures continuity of leadership and the smooth running of monetary policy decision-making during the transition period.
"Pro tempore" status is temporary and is typically used to maintain operational functions, including meeting coordination and policy communication, until the new chairman completes the swearing-in process. Warsh is scheduled to take over after the inauguration process is complete.
For the market, this move tends to maintain stability in the very short term, as Powell remains in the interim leadership role. Investors' primary focus remains on the direction of inflation and interest rates, and whether the change in chairman will affect the tone of communication and policy preferences at subsequent meetings. (arl)
Source: Newsmaker.id
