Federal Reserve Chair Jerome Powell chose not to address questions about his future leadership at the central bank or ongoing legal matters during a press conference held on Wednesday.
When reporters asked if he intended to remain as Fed chair once his current chairmanship concludes in May, Powell declined to give a direct response. The chair noted that his term as a Fed governor runs through 2028, which extends beyond his current role as chair.
On the question of whether he would stay in the chair position, Powell said, "There’s a time and place for these questions," and added that the topic was "not something I’m going to be getting into today." He did not elaborate further on his plans or provide guidance on how his role might evolve after the chair term ends.
Powell was also asked to comment on whether the Federal Reserve had responded to subpoenas from the Department of Justice relating to renovation work at the central bank. On that point, he declined to offer information, telling reporters, "I have nothing for you on that today." No details about the subpoena response or the status of the legal inquiry were provided during the session.
In addition, Powell refused to expand on a statement issued on January 11 when pressed about it during the conference. He provided no further commentary about the content or context of that earlier statement.
Finally, the chair reiterated the Fed’s customary approach of refraining from commenting on the dollar. Powell maintained that the central bank would not offer commentary on the currency, in line with established practice.
The press conference left several questions unanswered: Powell did not state whether he would remain as chair after May, offered no update on the DOJ subpoenas tied to renovation work, and did not provide further information about the January 11 statement. He also maintained the Fed’s long-standing position of avoiding commentary on the dollar.
Summary: During a Wednesday press conference, Jerome Powell declined to say whether he would continue as Fed chair after his chair term ends in May, would not comment on DOJ subpoenas related to renovation work at the central bank, and refused to expand on a January 11 statement. He also reiterated the Fed’s traditional stance of not commenting on the dollar.