Jerome Powell has announced he will remain on the Federal Reserve Board, pushing back against what many see as an unprecedented pressure campaign from the White House.
President Trump has launched a criminal investigation into the Fed Chair-a historic first-while his nominee, Kevin Warsh, is poised to take the top seat. Still, Powell intends to serve out his board term until 2028, a move that reinforces the central bank’s independence and has drawn bipartisan support.
Prediction markets reflect the shift. The contract for Powell being ousted by May 14 now trades at just 0.9% YES, down sharply from 2%. A separate May 15 market fell to 22.5% YES from 43%, signaling reduced expectations for an early exit.