Jerome Powell To Stay On Federal Reserve Board Of GovernorsIn an unusual step, outgoing Federal Reserve Chair Jerome Powell said he would stay on the organization’s board of governors when his term as chair ends in May.The move will deny President Donald Trump the opportunity to replace him with a loyalist until January 2028.Late last week, the Department of Justice abruptly dropped an investigation into Powell over a long-planned renovation project."I 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,” Powell said Wednesday. “I’m encouraged by recent developments and I'm watching the remaining steps in this process carefully."Kevin Warsh, Trump's pick to succeed Powell as chair, is expected to face a final confirmation vote by mid-May.See All Updates