Will Fed Chair Powell's term end soon? Uncertainty remains over whether he will stay on as a board member

Golden Finance reports that on April 25, Federal Reserve Chair Jerome Powell may be in the final weeks of his career leading the central bank. After the Department of Justice made a decision on Friday, he now faces a choice: whether to continue staying in the institution. U.S. prosecutor Jenny Piro posted on social media announcing that she will transfer the criminal investigation into the Federal Reserve headquarters renovation to the central bank’s internal inspector general, a move that effectively causes the Department of Justice to temporarily step out of the investigation. Krishna Guha, head of global policy and central bank strategy at Evercore ISI, said in a report: “Powell has been tight-lipped. If this investigation hadn’t happened, we believe he would fully leave the Federal Reserve by May 15. But we think the Department of Justice’s action may be coming too late—and the threat that the investigation could restart is too uncertain—for Powell not to leave on May 15.” Guha speculates that, instead, Powell may remain in his position for a period of time, even if he does not fully serve the term as a governor, which expires in January 2028.