Jerome Powell’s second term as Chairman of the Federal Reserve officially ends today. After leading the central bank since 2018, Powell confirmed he will step down as Chairman while remaining on the Federal Reserve Board of Governors, where his term continues through January 2028.
During his time as Chair, Powell oversaw the late 2010s economic expansion, the COVID-19 crisis, the inflation surge between 2021 and 2023, and multiple cycles of interest rate hikes and cuts. His leadership shaped global markets, liquidity conditions, and risk appetite across stocks and crypto.
Markets are now watching how the next Federal Reserve Chairman will approach inflation, rates, and economic growth. Powell will still remain inside the Fed system, meaning his influence on monetary policy may not disappear entirely.