Jerome Powell is not quite done yet. His four-year term as Federal Reserve chair ended Friday, but rather than leave the top seat empty while the transition plays out, the Fed's board voted to keep him in place on a temporary basis until his successor is ready to take over. Kevin Warsh was confirmed by the US Senate earlier this week to lead the central bank, but he cannot officially assume the role until he is sworn in. President Trump still needs to sign Warsh's official commission before that can happen, and Warsh has also committed to divesting a substantial amount of financial assets before stepping into the job. Until all of that is sorted, Powell holds the title of chair pro tempore. According to a report from Bloomberg, a spokesperson for the central bank declined to say when exactly Warsh might be sworn in. If Warsh is not sworn in within that window, Bowman and Miran said the arrangement should either be renewed through another board vote or addressed through presidential action. They noted they had discussed the matter with the Fed's general counsel before the vote. Their objection was not to Powell staying on temporarily, but to the open-ended nature of the designation. "Given that we do not support an unlimited timeframe for temporary chair designation, we cannot support this action," they said. Sagar is a journalist with an interest primarily in geopolitics and American domestic politics. Before joining Times Now, he wrote for Republic and Sw... View More