Jerome Powell Vows to Stay at Federal Reserve — ‘I Have No Choice,’ He Says

TLDR Federal Reserve Chair Jerome Powell has committed to remaining on the board as a governor beyond his May 15 chair term expiration Powell referenced political and legal pressures as compelling factors, stating he was left with “no choice” Interest rates remained unchanged at 3.5%–3.75%, marked by four dissenting votes — an uncommon occurrence in recent Fed history Kevin Warsh, nominated by Trump for Fed chair, passed the Senate Banking Committee vote 13-11 on April 29 Bitcoin dropped under $75,000 after the Fed’s hawkish messaging from dissenting board members Jerome Powell revealed on Wednesday his intention to continue serving on the Federal Reserve board in a governor capacity once his chairmanship concludes in May, walking back previous retirement expectations. BREAKING: President Trump says Fed Chair Powell wants to stay at the Fed because “he can’t get a job anywhere else.” “Nobody wants him,” Trump says. pic.twitter.com/O7itCV94q3 — The Kobeissi Letter (@KobeissiLetter) April 29, 2026 During what Powell described as his final press briefing as chair, he explained that developments over the preceding three months compelled him to remain. “The things that have happened really in the last three months have, I think, left me no choice but to stay until I see them through,” Powell remarked. Powell directly cited mounting legal challenges and political interference as primary motivations for his decision to continue serving. He expressed concern that these external pressures jeopardize the central bank’s independence in establishing monetary policy free from political influence. The Trump White House had previously initiated a criminal probe targeting Powell, which was later paused. Nonetheless, administration officials indicated willingness to revive the investigation should additional evidence surface, creating ongoing uncertainty regarding Powell’s status. U.S. Attorney Jeanine Pirro confirmed the issue would continue under scrutiny by the Federal Reserve...