🚨 Jerome Powell Resigns as Federal Reserve Chair
After guiding the Federal Reserve through some of the toughest economic periods in recent history — including the pandemic and a surge in inflation not seen in decades — Jerome Powell officially stepped down on May 15, 2026.
His leadership era was marked by resilience and a strong commitment to protecting the Fed’s independence. Over the years, Powell worked alongside multiple administrations, handled dozens of rate decisions, and faced persistent inflation that stayed above the Fed’s 2% target for years — putting pressure on everyday expenses like housing, vehicles, and food.
The final phase of his tenure wasn’t without controversy. A Department of Justice investigation into Fed building renovations created headlines, though Powell dismissed it as political pressure. The case has now been closed.
Stepping in as the new Federal Reserve Chair is Kevin Warsh, officially confirmed on May 13, 2026. Interestingly, Powell will still remain on the Board of Governors until 2028, signaling continued concern over maintaining the central bank’s independence.