When Jerome Powell was sworn in as chair of the Federal Reserve eight years ago, economists worried that inflation and interest rates were too low and that too few Americans had jobs

The Federal Reserve board on Friday named Jerome Powell chair pro tempore until his successor Kevin Warsh is officially sworn in, the central bank said in a statement.

If you have a credit card, hope to buy a house, or just want stable grocery prices – let’s talk about the future of Fed independence!It’s impossibly important for the Federal Reserve to steer monetary policy without political interference – an ideal pushed to its brink during Jerome Powell’s time as Fed Chair.

Friday marked Jerome Powell's last day as Chairman of the Federal Reserve. CBS News producer Emily Pandise takes a look at his legacy.

High interest rates and inflation could prohibit new Chairman Kevin Warsh from getting his way quickly at the Federal Reserve.

"Confirmation hearings are political theater rather than substance, and he [was] plenty smart enough to avoid saying anything tangible."

The Federal Reserve is yapping too much about the economy, according to Kevin Warsh, the US central bank’s incoming leader.

Jerome Powell’s eight‑year tenure as Federal Reserve chair ends today, as the Senate has confirmed Kevin Warsh to succeed him. The move is seen as a win for President Donald Trump, who frequently clashed with Powell and pushed for deeper interest‑rate cuts.