Who will lead the Fed following May 15? A fresh dispute could be on the horizon

Potential Showdown Looms Over Federal Reserve Leadership

A dispute may be emerging between the Trump administration and the Federal Reserve regarding who will lead the central bank after May 15, the day Jerome H. Powell’s term as chair concludes. If Kevin Warsh, President Donald Trump’s chosen successor, has not received Senate approval by that time, Powell has indicated he intends to continue serving as acting chair of the Fed board. “That’s what the law requires, it’s how we’ve handled similar situations before—including my own—and it’s the approach we’ll take now,” Powell explained to the press last month.