Jerome Powell's term as Federal Reserve governor extends through January 2028, following the end of his chairmanship in May 2026 when Kevin Warsh assumed the role. Powell announced in April that he would remain on the Board of Governors for an undetermined period, citing ongoing legal and political pressures from the Trump administration—including a Justice Department probe into headquarters renovations that was later dropped—as threats to monetary policy independence. His decision marked the first such extension by a chair since 1948 and has kept focus on potential exit timing amid debates over Fed autonomy, with no fixed departure date announced and the 14-year staggered terms insulating governors from removal except for cause.