Washington: Jerome Powell, chairman of the US Federal Reserve, stated that he has "no intention" of leaving the Fed Board of Governors until the investigation concerning him is completed with transparency and finality. This declaration was made during a press briefing where Powell addressed his tenure at the Fed following the conclusion of his term as chair, which is scheduled for this May.

According to Anadolu Agency, federal prosecutors in Washington initiated a criminal investigation last year into Powell. The investigation is centered around the renovation of the Fed's headquarters and potential misleading statements to Congress regarding the project's scope and cost. Powell has refuted these allegations, describing the probe as politically driven.

The situation has been further complicated by US President Donald Trump, who has persistently criticized Powell and other Fed officials for not significantly reducing interest rates. In January, Trump announced Kevin Warsh, a former member of the Federal Reserve Board of Governors, as his nominee for the next Fed chair. Powell indicated that he would continue to serve as Fed chair pro tem if Warsh has not been confirmed by the end of his term.