Federal Reserve Chairman Powell's term will expire and whether he will remain on board remains uncertain

On April 25, Federal Reserve Chairman Jerome Powell may be in the final weeks of his central bank leadership career. After the Justice Department's decision on Friday, he now faces a choice: whether to continue to serve with the agency. U.S. Attorney Jenny Piro posted on social media to announce that she would transfer a criminal investigation into the renovation of the Federal Reserve's headquarters to the central bank's internal inspector general, effectively withdrawing the Justice Department from the investigation. Krishna Guha, head of global policy and central bank strategy at Evercore ISI, said in a report: "Powell has remained tight-lipped. If this investigation had not taken place, we think he would have left the Fed completely on May 15. But we believe the Justice Department's move may have come too late-and the threat of a restart of the investigation is too uncertain-for Powell to leave on May 15." Guha speculates that instead, Powell may remain in office for a while, even if he does not fully serve his directorship term that expires in January 2028.