Federal Reserve Chairperson Jerome Powell said on Wednesday, April 29, 2026, that he will remain as governor of the central bank when his leadership term ends next month.
The Chairman of the US Federal Reserve attended a press conference at the US Federal Reserve following the two-day meeting of the Federal Open Market Committee FOMC in Washington, DC.
“After my term as Chairman ends on May 15, I will continue to serve as Governor for an undetermined period. I plan to keep a low profile as Governor,” Powell said at a news conference after the latest Federal Open Market Committee meeting.
Powell’s most significant announcement came when he revealed that he would remain on the Federal Reserve Board of Governors after his presidency ends on May 15.
Powell said, “After my term as Chairman ends on May 15, I will continue to serve as Governor for a term to be determined. I plan to keep a low profile as Governor.” He will remain in the post until January 2028, even as Trump’s nominee Kevin Worsh moves closer to confirmation.
Powell used his final press conference as Federal Reserve chairman on Wednesday to send a direct message to President Donald Trump and incoming nominee Kevin Wersh.
The 73-year-old made his speech after the Fed left benchmark interest rates unchanged for the third consecutive meeting, keeping its short-term rate around 3.6%, signaling a possible future cut.
