The Justice Department’s investigation into federal reserve chair Jerome Powell has brought heightened attention to a key drama that will play out at the central bank in the coming months. Will Powell leave the Fed when his term as chair ends, or will he take the unusual step of remaining a governor?
Powell's term as Fed chair finishes on 15 May, but because of the central bank's complex structure, he has a separate term as one of seven members of its governing board that lasts until 31 January 2028. Historically, nearly all Fed chairs have stepped down from the board when they are no longer chair. But Powell could be the first in nearly 50 years to stay on as a governor.
