Federal Reserve Chairman Jerome Powell on Wednesday confirmed that he planned to continue serving on the Board of Governors after he leaves the chairmanship.

Powell's appointment to the board is set to last until January 2028. His term as chairman is set to expire in May. He did not, however, confirm plans to complete his term, saying he would remain “for a period of time to be determined," The Hill reported.

Powell added that he would not leave the board until an investigation into the renovation of the Fed Reserve building was complete. U.S. Attorney Jeanine Pirro confirmed this month that she had ended the criminal probe into Powell.

“I’m encouraged by recent developments, and I’m watching the remaining steps in this process carefully," he also said.

His remarks come as Kevin Warsh faces confirmation to serve as the next Fed chair.

Ben Whedon is the Chief Political Correspondent at Just the News. Follow him on X.