{"id":71821,"date":"2026-04-29T22:43:44","date_gmt":"2026-04-29T22:43:44","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/powell-keeps-fed-governor-role-past-may-15-in-first-such-move-since-1948-bitcoin-news\/"},"modified":"2026-04-29T22:43:44","modified_gmt":"2026-04-29T22:43:44","slug":"powell-keeps-fed-governor-role-past-may-15-in-first-such-move-since-1948-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/powell-keeps-fed-governor-role-past-may-15-in-first-such-move-since-1948-bitcoin-news\/","title":{"rendered":"Powell Keeps Fed Governor Role Past May 15 in First Such Move Since 1948 \u2013 Bitcoin News"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<p><strong>Key Takeaways:<\/strong><\/p>\n<ul>\n<li>Powell holds a separate Governor term through January 2028, allowing him to stay on the Fed Board after May 15.<\/li>\n<li>The DOJ closed its criminal investigation into the Fed\u2019s HQ renovation around April 24, 2026, but Powell said he is watching the remaining steps.<\/li>\n<li>Kevin Warsh cleared the Senate Banking Committee 13-11 on April 29 and is expected to be confirmed the week of May 11, 2026.<\/li>\n<\/ul>\n<h2>Powell Breaks 78-Year Precedent, Holds Fed Governor Seat Beyond Chair Term<\/h2>\n<p><a href=\"https:\/\/news.bitcoin.com\/fed-and-powell-under-fire-but-some-argue-independence-was-always-an-illusion\/\">Jerome Powell<\/a> made the <a href=\"https:\/\/www.federalreserve.gov\/mediacenter\/files\/FOMCpresconf20260429.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">disclosure<\/a> at the conclusion of what he called his last press conference as Chair. His four-year term as Chair, extended in 2022, ends May 15. But Powell holds a separate 14-year Governor seat on the seven-member Board that runs through January 2028. Federal law permits him to keep that seat after stepping down as Chair.<\/p>\n<p>\u201cAfter my term as Chair ends on May 15, I will continue to serve as a governor for a period of time, to be determined,\u201d Powell said. \u201cI plan to keep a low profile as a governor.\u201d<\/p>\n<p>The move is historically rare. Fed Chairs have almost always vacated their Governor seat when their tenure as Chair ended. The last exception was 1948. Powell\u2019s decision breaks that pattern for the first time in nearly eight decades.<\/p>\n<p>The decision is tied directly to a <a href=\"https:\/\/news.bitcoin.com\/federal-reserve-gets-probed-by-doj-chair-powell-alleges-feds-independence-is-at-stake\/\">criminal investigation<\/a> opened by the Department of Justice into the Fed\u2019s headquarters renovation project, a probe Powell himself had referred to the Fed\u2019s Inspector General. On April 24, the U.S. Attorney for the District of Columbia closed the criminal investigation. The DOJ also provided assurances it would not reopen the matter absent a criminal referral from the Fed\u2019s Inspector General.<\/p>\n<p>\u201cI have said that I will not leave the Board until this investigation is well and truly over, with transparency and finality, and I stand by that,\u201d Powell remarked. \u201cI am encouraged by recent developments, and I am watching the remaining steps in this process carefully.\u201d<\/p>\n<p>Powell congratulated Kevin Warsh, <a href=\"https:\/\/news.bitcoin.com\/trumps-fed-chairman-pick-revealed-kevin-warsh-to-succeed-jerome-powell\/\">nominated<\/a> by President Trump to succeed him as Chair. The Senate Banking Committee <a href=\"https:\/\/news.bitcoin.com\/senate-panel-clears-kevin-warsh-13-11-setting-up-fed-leadership-change-before-may-15\/\">advanced<\/a> Warsh\u2019s nomination on Wednesday on a 13-11 party-line vote. Full Senate confirmation is expected the week of May 11. Powell said he will serve as Chair until Warsh is sworn in.<\/p>\n<p>\u201cThere is only ever one Chair of the Federal Reserve Board,\u201d Powell said. \u201cWhen Kevin Warsh is confirmed and sworn, he will be that Chair.\u201d<\/p>\n<p>By staying on the Board, Powell prevents an immediate vacancy. That blocks Trump from gaining an additional appointment beyond Warsh\u2019s confirmation, limiting how quickly the Board\u2019s composition can shift. The move comes as Trump and Powell have clashed several times over the last 12 months.<\/p>\n<p>On monetary policy, the FOMC <a href=\"https:\/\/news.bitcoin.com\/federal-reserve-holds-interest-rates-steady-at-3-5-3-75\/\">voted to hold<\/a> the federal funds rate steady at 3.5% to 3.75%. Powell cited a 3.5% rise in total PCE prices over the 12 months ending in March, driven by higher global oil prices tied to the conflict in the Middle East. Core PCE, which strips out food and energy, rose 3.2% over the same period.<\/p>\n<p>The unemployment rate held at 4.3%in March. Powell noted that slowing job growth reflects a decline in labor force participation and lower immigration, alongside softening labor demand.<\/p>\n<p>\u201cMonetary policy is not on a preset course, and we will make our decisions on a meeting-by-meeting basis,\u201d Powell said, citing elevated uncertainty from Middle East developments.<\/p>\n<p>Powell closed by affirming the Fed\u2019s institutional mission. \u201cI am confident that the Fed will continue to do its work with objectivity, integrity, and a deep commitment to serve the American people.\u201d How long Powell remains as Governor depends on what he considers sufficient closure on the DOJ matter. Markets and political observers are watching closely.<\/p>\n<p>Equities closed the session on uneven footing following Powell\u2019s announcement. The Nasdaq inched higher by 9.44 points to 24,673.24, while the Dow Jones declined 280.12 points to 48,861.81, and the NYSE Composite shed 84.08 points to 22,751.51.<\/p>\n<p>The S&amp;P 500 eased 2.85 points to 7,135.95. In <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">crypto<\/a> markets, <a href=\"https:\/\/markets.bitcoin.com\/crypto\/bitcoin\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> traded at $75,839, down 0.66% over 24 hours, while ethereum changed hands at $2,247, off 1.87% on the day.<\/p>\n<\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/powell-keeps-fed-governor-role-past-may-15-in-first-such-move-since-1948\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways: Powell holds a separate Governor term through January 2028, allowing him to stay on the Fed Board after May 15. The DOJ closed its criminal investigation into the Fed\u2019s HQ renovation around April 24, 2026, but Powell said he is watching the remaining steps. Kevin Warsh [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":71822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/71821"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=71821"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/71821\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/71822"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=71821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=71821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=71821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}