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Powell Says He Will Stay on as Fed Governor After Term as Chair Ends

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NYTIMES 입력 2026.04.30 03:40 0

Powell Says He Will Stay on as Fed Governor After Term as Chair Ends

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April 29, 2026, 2:56 p.m. ET

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Powell Says He Will Stay on as Fed Governor After Term as Chair Ends

Jerome H. Powell cited lingering legal threats against him and the Federal Reserve in explaining his decision to remain at the central bank.

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The announcement ends months of speculation about whether Jerome H. Powell would choose to continue on as a member of the Board of Governors at the Federal Reserve.

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Caroline Gutman for The New York Times

Colby Smith

Colby Smith covers the Federal Reserve.

April 29, 2026

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2:54 p.m. ET

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Jerome H. Powell said on Wednesday that he would stay on as a governor at the Federal Reserve after his term as chair ends May 15,

citing lingering

legal threats

against him and the central bank as part of a pressure campaign by President Trump for lower borrowing costs.

“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,” Mr. Powell said at a news conference on Wednesday.”

Mr. Powell pointed to the legal attacks on the Fed as the reason for his decision.

“I worry that these attacks are battering the institution and putting at risk the thing that really matters to the public, which is the ability to conduct monetary policy without taking into consideration political factors,” Mr. Powell said. He added: “I plan to keep a low profile as a governor.”

His announcement marks the end of months of speculation about whether Mr. Powell would choose to continue on as a member of the Board of Governors, a position he can hold until January 2028.

Fed chairs typically step down after their four-year terms, unless reappointed by the White House, in an effort to ensure as smooth a leadership transition as possible. The last time a chair stayed on past the end of their term was in 1948, when Marriner Eccles continued to serve as a governor for three years. But for Mr. Powell, the current moment called for him to break with tradition.

Mr. Powell’s decision reflects his mounting concerns about the Fed’s ability to operate independently amid increasingly aggressive efforts by the administration to test the guardrails that have long protected that autonomy.

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