Jerome Powell to remain federal reserve governor after chair term ends

Jerome Powell, the Federal Reserve Chairperson, said on Wednesday April 29, 2026 ‌he will stay on as a central bank governor when his leadership term ends next month.

U.S. Federal Reserve Chair attends a press conference at the U.S. Federal Reserve following a two-day meeting Federal Open Market Committee FOMC in Washington, D.C.

“After my term as chair ends on May 15, I will continue to serve as a governor for a ‌period of time to be determined. I plan to keep a low profile as a governor,” Powell said in a press conference following the latest Federal Open Market Committee meeting.

Powell’s most consequential announcement came when he revealed he will remain on the Federal Reserve Board of Governors after his chairmanship ends May 15.

“After my term as chair ends on May 15, I will continue to serve as a governor for a period of time to be determined. I plan to keep a low profile as a governor," Powell said. He will remain on the position through January 2028 even as Trump’s nominee, Kevin Warsh, moves closer to confirmation

Powell used his final press conference as Federal Reserve chair Wednesday to send a direct message to President Donald Trump and incoming nominee Kevin Warsh.

The 73-year-old made his speech after the Fed left benchmark interest rates unchanged for a third straight meeting, keeping its short-term rate around 3.6% while signaling future cuts remain possible.