Federal Reserve Chairman Jerome Powell announced Wednesday that he plans to remain on the central bank’s board of governors once his tenure as chair concludes next month.
During a press conference that followed the most recent Federal Open Market Committee meeting, Powell revealed his intentions to continue in a different capacity. “After my term as chair ends on May 15, I will continue to serve as a governor for a period of time to be determined. I plan to keep a low profile as a governor,” Powell stated.
The announcement clarifies Powell’s future role within the Federal Reserve system as the leadership transition approaches in mid-May.
