Fed's Powell says he'll stay as Fed leader until successor confirmed

March 18 (Reuters) - Federal Reserve Chair Jerome Powell said on Wednesday he will stay on as central bank leader if his successor is not confirmed by May, when his current chair term ends.

“If my successor is not confirmed by the end of my term as chair, I would serve as chair pro-tem” until a successor is confirmed, Powell said in a press conference following the latest Fed meeting.

He said that is what the law calls for and “that's what we've done on several occasions, including involving me, and that's what we're going to do in this situation.”