Jerome Powell will finish his term as Chairman of the Fed in May 2026 but will continue to serve as a board member until 2028.
Trump has repeatedly pressured and predicted that Powell will leave his position early, although under the law, dismissing the Chairman of the Fed is very difficult as it can only happen 'for just cause.'
MAIN CONTENT
Jerome Powell's term as Chairman of the Fed ends in 2026 and as a member of the board in 2028.
Trump continues to criticize and predict that Powell will soon leave his position, but the law limits dismissal rights.
The Presidents of the regional Fed banks are chosen by private boards and are not directly influenced by the President.
Will Jerome Powell actually leave his position as Chairman of the Fed after 8 months?
Jerome Powell will continue to serve as Chairman of the Fed until May 15, 2026, and remains a member of the Fed Board until 2028, according to the appointment decision and current legal regulations.
Mr. Trump once claimed that Powell would leave within eight months; however, under the law, the Chairman of the Fed can only be removed for 'just cause' and the President cannot change him freely. Powell has also repeatedly stated that he will not resign early.
"I think he's not doing well, but he will leave soon. In eight months, he will no longer be in that position."
Donald Trump, former President of the United States, at a meeting with Philippine President Ferdinand Marcos Jr., July 2025
What is the mechanism for appointing and the term of the Chairman of the Fed, Vice Chairman, and members of the Board of Governors?
Under US law, the Chairman and two Vice Chairmen of the Fed are nominated by the President and confirmed by the Senate for a 4-year term, while Board members are appointed for longer terms.
Jerome Powell, first appointed by President Barack Obama, continues as Chairman until 2026, while Board members confirmed by the Senate can serve until 2038 like Lisa Cook. The Presidents of the regional Fed banks are elected by private boards and approved by the Fed Board.
List of some important members and their terms
Member Position Term of Office Appointed by Jerome Powell Chairman of the Fed Until May 2026 Obama (first term), confirmed by the Senate Michelle Bowman Vice Chairman of the Fed Until January 2034 Trump, confirmed by the Senate Lisa Cook Governor Until 2038 Biden, confirmed by the Senate Adriana Kugler Governor Until 2026 Biden, confirmed by the Senate
Why does Trump view Powell's failure to lower interest rates as a political decision?
Trump criticizes that Powell is delaying lowering US interest rates for political reasons, while regions like Europe continuously adjust downwards to stimulate the economy.
The former US leader publicly expressed his intention to appoint someone who would be under pressure to lower interest rates in favor of his policies, making the selection of the Fed Chairman a prominent political issue.
"The US needs lower interest rates, but Powell has not acted promptly like Europe."
Donald Trump, speaking at the White House, July 2025
Is the speculation about Jerome Powell's resignation accurate?
Recently, rumors have emerged that Fed Chair Jerome Powell will resign, but official sources and Fed statements have completely denied this information.
A representative of the Fed Board asserts that Powell has never discussed resignation and currently continues to hold an important executive role at the Fed.
Currently, rumors about Powell 'officially resigning' are false. He has not discussed this matter and shows no signs of leaving the position of Chairman of the Fed.
The Kobeissi Letter, press release dated July 22, 2025
Frequently Asked Questions
When will Jerome Powell's term as Chairman of the Fed expire?
Powell will end his term as Chairman of the Fed on May 15, 2026, after which he will continue to hold the position of a board member until 2028.
Does the President of the United States have the power to dismiss the Chairman of the Fed?
According to the law, the Chairman of the Fed can only be removed for 'just cause' such as legal violations, not for arbitrary dismissal by the President.
Who appoints the Chairman and Vice Chairman of the Fed?
The President nominates and the Senate confirms, a 4-year term for the roles of Chairman and Vice Chairman of the Fed.
Who elects the Presidents of the regional Fed banks?
The private board at each regional Fed bank selects, subject to approval by the Fed Board.
Is the rumor about Powell's resignation accurate?
The rumor that Powell will resign is false; he has not discussed or planned to resign.
Source: https://tintucbitcoin.com/trump-yeu-cau-powell-roi-fed-2028/
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