Federal Reserve: Powell will temporarily serve as "interim chairman" before Worsh officially takes office

On May 16, according to a report by Cailian Press, the Federal Reserve announced on May 15 local time that Jerome Powell will temporarily serve as "acting chairman" before Kevin Warsh officially takes the oath of office as Federal Reserve Chairman. Powell's term as chairman expires on Friday. The Federal Reserve stated: "This practice is in line with past precedents during similar transitions between outgoing and incoming chairmen."