Powell Will Remain as Federal Reserve Governor

new video loaded: Powell Will Remain as Federal Reserve Governor

transcript

Back

transcript

Powell Will Remain as Federal Reserve Governor

Jerome H. Powell shared on Wednesday that he plans to stay on as a governor at the Federal Reserve after his term as chair wraps up next month, mainly due to ongoing legal challenges from the Trump administration.

This is my last press conference as chair. I’ve stated that I won’t leave the board until this investigation is fully resolved with clarity and closure, and I stand by that. After my chair term ends on May 15, I’ll continue serving as a governor for an undetermined period of time. I’m concerned that these attacks are harming the institution and jeopardizing what truly matters to the public: our ability to conduct monetary policy free from political influences. I appreciated the announcement last Friday by the U. S. Attorney for the District of Columbia that she had closed the criminal investigation. However, she also indicated that she wouldn’t hesitate to restart it if needed. Over the weekend, the Department of Justice reassured us they won’t reopen the investigation unless there’s a criminal referral from the Fed’s inspector general; without such a referral, if they do appeal the recent court decision, they wouldn’t aim to restart investigations or issue new subpoenas in that appeal process. I’m literally staying because of these actions taken. I had planned to retire long ago. But everything that’s happened over these last three months has left me no choice but to remain until I’ve seen this through-at least for now. Thank you very much, everyone. I won’t see you next time.

Jerome H. Powell shared on Wednesday that he plans to stay on as a governor at the Federal Reserve after his term as chair wraps up next month, mainly due to ongoing legal challenges from the Trump administration.

By Jamie Leventhal

April 29, 2026

Source link