Jerome Powell remains on the Federal Reserve Board of Governors following the end of his chairmanship in May 2026, with his 14-year term extending through January 2028. Recent pressure stems from a September 2026 inspector general report highlighting management shortcomings in the Fed’s headquarters renovation project, prompting White House economic adviser Kevin Hassett and President Trump to publicly urge his immediate resignation. However, the report found no criminal wrongdoing or misconduct, and the Justice Department declined to reopen a probe, reinforcing statutory protections that limit removal to “for cause.” With Chair Kevin Warsh now leading policy amid ongoing inflation concerns and recent rate adjustments, traders view Powell’s departure before year-end as low probability, reflecting the structural barriers and political dynamics surrounding board independence.