Powell "has no plans to leave before term expires in May 2026"

Federal Reserve (Fed) Chairman Jerome Powell told the Economic Club of Washington DC that he has no plans to leave before his term expires in May 2026, according to Reuters. I will serve out my full term as chairman." "It's a very sad day for our country," he said, referring to the shooting of former U.S. President Donald Trump, adding, "We don't take politics into account." Previously, Trump had accused the Fed of "cutting rates before the November elections to help the Democrats," and warned in February that he would "not reappoint Powell to a third term."