Jerome Powell remains a Federal Reserve governor through January 31, 2028, after stepping down as chair in May 2026 when Kevin Warsh assumed the role. Powell announced in April that he would stay on the board to protect monetary policy independence amid Trump administration pressure and a Justice Department probe into Fed headquarters renovations, which has since been dropped. This commitment, combined with statutory “for cause” removal standards and recent FOMC decisions under Warsh to hold the federal funds rate steady near 3.75-4.00% despite elevated inflation, underpins trader consensus for limited near-term exit risk. Key upcoming events include potential Senate confirmation dynamics and year-end policy reviews that could influence board composition.