Jerome Powell to Stay on as Fed Governor After Chair Term Ends

Powell's Continued Role#

Federal Reserve Chair Jerome Powell announced on Wednesday that he will remain a central bank governor after his term as chair concludes next month. His leadership term as chair will officially end on May 15.

Future Plans#

After stepping down as chair, Powell plans to keep a low profile in his role as governor. He made these comments during a press conference following the latest meeting of the Federal Open Market Committee, which is responsible for setting monetary policy in the U.S.

Commitment to Collaboration#

Powell emphasized that he will not act as a "shadow chair" and intends to be a constructive participant on the board. He also expressed confidence in Kevin Warsh, noting that Warsh has the skills necessary to help build consensus among board members.