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Central Banks•29 April 2026•

1 min read

Powell to Remain on Fed Board Post-Chairmanship to Guard Independence

Key Facts

1The Senate Banking Committee approved Kevin Warsh's nomination to lead the Federal Reserve in a 13-11 party-line vote.

2Jerome Powell stated he will continue to serve as a member of the Board of Governors after his chairmanship ends to protect central bank independence.

3The Federal Reserve maintained benchmark interest rates unchanged during the April FOMC meeting, Powell's final as Chair.

Federal Reserve Chair Jerome Powell has confirmed he will continue to serve as a member of the Board of Governors after his chairmanship concludes, a move intended to safeguard the central bank's institutional independence. This announcement follows the Senate Banking Committee's approval of Kevin Warsh’s nomination to lead the Fed in a narrow 13-11 party-line vote. During the April FOMC meeting, which marks Powell's final session as Chair, the Federal Reserve opted to maintain benchmark interest rates at their current levels. Powell’s decision to remain on the board is widely interpreted as a strategic response to perceived legal threats and risks to the Fed's autonomy. The transition to Warsh's leadership signals a potentially more hawkish shift in future monetary policy. Markets are now closely monitoring the implications of this leadership overlap for long-term economic stability.