Powell, Trump’s adviser, said he would continue the Fed’s role until 2026
Key receivers
Jerome Powell is expected to remain the chairman of the Federal Reserve until May 2026 in Trump's second term. Trump's relationship with Powell has been contentious, having previously threatened to remove Powell over rate hikes.
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Federal Reserve Chairman Jerome Powell's term could end in May 2026 during a second Trump presidency, a top adviser to Donald Trump told CNN on condition of anonymity.
The adviser said Trump could change his position, but he and his economic team currently support Powell remaining at the helm of the central bank as he moves to cut interest rates.
Powell, a Republican and former private equity executive, was previously appointed by Trump to the Fed's governing board in 2018. It was in 2018. He received a second four-year term from President Joe Biden.
The relationship between Trump and Powell has been contentious, with Trump threatening Powell's position several times during his presidency. In the year In 2018, Trump considered replacing Powell after the Fed raised interest rates, although the president has limited power to remove the Fed chairman.
At a recent Economic Club event in Chicago, Trump downplayed the role of the Fed chairman, saying:
“You show up to the office once a month and say, ‘Let's flip a coin,' and everyone talks to you like you're a god.”
Last month, Powell's Jackson Hole speech hinted at an upcoming Fed policy adjustment on interest rates, leading to a surge in bitcoin prices.
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