Investing.com -- Federal Reserve Chair Jerome Powell concluded his final news conference in the role on Wednesday, telling reporters he won't see them next time as he prepares to hand over leadership to Kevin Warsh in mid-June.

Powell said he is proud of the work accomplished with colleagues during his tenure. He noted that markets continue to price in the Fed's credibility regarding its 2 percent inflation target and that this credibility has not weakened.

The outgoing chair stated that the economy is powering through shock after shock, with consumers continuing to spend. He added that the Fed has not observed much slowdown yet from the recent rise in gasoline prices.

Powell plans to remain as a Fed governor after his leadership term expires in May, citing concerns about the Trump administration's ongoing attacks on Fed independence. However, he indicated he will not attempt to undercut Warsh as the new chair.

When the Fed next meets to set policy in mid-June, Warsh will lead any post-meeting news conference.