politics

April 29, 2026

Jerome Powell says he will continue to serve as a Fed governor, calls Trump criticism 'unprecedented'

Powell addressed the question of whether he will stay on as a Board of Governors member after his term as chair ends.

Jerome Powell says he will continue to serve as a Fed governor, calls Trump criticism 'unprecedented'

TL;DR

  • Jerome Powell will remain on the Federal Reserve Board of Governors indefinitely pending the conclusion of an investigation into headquarters renovations.
  • Powell stated his decision to stay is guided by what is in the best interest of the institution and the people it serves.
  • He described President Trump's criticism as 'unprecedented' and expressed worry about its negative impact on the Fed's ability to operate free of political influence.
  • Powell's continued service denies President Trump a majority on the seven-member Board of Governors for the moment.
  • Powell congratulated his appointed successor, Kevin Warsh, whose nomination advanced to the full Senate floor.
  • The Justice Department's investigation into building renovations was a core controversy, though a subpoena for Powell was thrown out.
  • Recent events in the last three months influenced Powell's decision to stay until the investigation is resolved.

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