Powell Weighs Staying on Fed Board After Chair Term Ends
Jerome Powell says he will not leave the Fed until a criminal probe ends. He is considering staying on the board through 2028 to ensure institutional stability.
Federal Reserve Chair Jerome Powell has indicated that his future at the central bank of the United States remains tied to the resolution of ongoing legal and political challenges. His decision on whether to retain his seat on the Board of Governors after his leadership term concludes in May is set to influence the tenure of his potential successor, Kevin Warsh, and the broader efforts by the administration of President Donald Trump and Treasury Secretary Scott Bessent to overhaul the institution.
Powell addressed the matter publicly for the first time on Wednesday, asserting that he would not depart the Fed until a criminal investigation led by U.S. Attorney Jeanine Pirro is concluded with transparency and finality. While his term as chair ends soon, his seat as a governor lasts until 2028, raising the possibility of a dual-leadership dynamic often referred to by analysts as a "two popes" scenario, a reference to historical schisms in the Catholic Church.
