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Central BanksMediumUpdated×24•Originally published 29 April 2026•Updated 1 May 2026•
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Jerome Powell to Remain as Fed Governor After Chairmanship Term Ends

Key Facts

1Jerome Powell announced he will continue to serve as a member of the Federal Reserve Board of Governors for an undetermined period after his term as chair ends in mid-May.
2Powell cited lingering legal threats against him and the Federal Reserve as a reason for his decision to remain at the central bank.
3The announcement comes as the Senate Banking Committee approved Kevin Warsh’s nomination to succeed Powell.

The Federal Reserve held interest rates steady at 3.50%-3.75% for the third consecutive meeting, as Chair Jerome Powell specified May 15th as the date he will step down from the helm while remaining a Governor. Powell confirmed he will stay on the Board until 2028, a historic move aimed at safeguarding the Fed's autonomy that prevents President Donald Trump from filling an additional seat. While Trump dismissed the move's significance, analysts suggest it could worsen relations with the White House. Powell has emphasized his commitment to being a 'constructive' member, denying he would act as a 'shadow chair' to influence his successor, Kevin Warsh. These developments underscore a strategic defense of institutional independence amid evolving tensions over the future path of monetary policy.