Fed Names Jerome Powell Chair Pro Tempore Until Kevin Warsh Sworn In

The Federal Reserve Board has officially designated Jerome H. Powell as chair pro tempore following the conclusion of his term as Chair. This interim appointment ensures continuous leadership within the central bank while the swearing-in process for his successor, Kevin M. Warsh, is finalized. The Board announced this decision on May 15, 2026, stating that Powell will hold the temporary role until Warsh is formally sworn in as the new Chair. This procedural move aligns with historical precedents established during previous transitions between Federal Reserve Chairs, ensuring stability and operational continuity during the change in command. The announcement highlights the administrative steps taken to manage the handover of power at the highest level of the US central banking system. By naming the incumbent as chair pro tempore, the Board maintains its ability to conduct essential business without interruption. The press release serves as an official confirmation of the transitional status, clarifying the chain of command during this specific interim period before Kevin M. Warsh assumes full responsibilities as the next Chair of the Federal Reserve.