Court Papers Show Powell to Stay at Fed If Probe Continues

Court papers released last week related to US Attorney Jeanine Pirro’s investigation of the Federal Reserve show Chair Jerome Powell feels compelled to stay on the central bank’s Board of Governors, at least until the legal process is completed.

The signal, based on comments by lawyers on both sides of the case, is the first public hint that Powell may utilize his option to stay at the central bank even after his term as chair expires in May. His term as a Fed Governor runs until January 2028.

In a legal filing, the Fed’s lawyers said that Powell’s own ...