MNI: Powell Says To Stay On As Governor For 'Period Of Time'

Federal Reserve Chair Jerome Powell said Wednesday he will remain on the Fed board as a governor after the end of his term as chair this month. 

"After my term as chair ends on May 15th I will continue to serves as a governor for a period of time to be determined. I plan to keep a low profile as a governor," he told reporters in his post-meeting press conference. "I am encouraged by recent developments and watching the remaining steps in this process carefully. My decisions on these matters will continue to be guided entirely by what I believe in the best interest of the institution and the people we serve." (See MNI INTERVIEW: Fed Winning Fight Over Independence-Richardson)