Jerome Powell, appointed interim chairman of the Federal Reserve until Warsh's oath of office

The Federal Reserve Board announced on Friday the appointment of Jerome Powell as interim chairman, pending the swearing-in of Kevin Warsh as the new head of the American central bank.

Although it is expected that Warsh will be sworn in soon before President Donald Trump, no exact date has been specified. Powell's eight-year term officially ended on Friday, and board members Stephen Miran and Michelle Bowman expressed that they do not support Powell's continuation as chairman due to the lack of a definite duration for his temporary status.

Powell stated that he will remain on the Fed's Board of Governors until he is convinced that the Trump administration has concluded the criminal investigation against him.