Federal Reserve Chair Jerome Powell announced on April 29, 2026, that he will extend his tenure as a central bank governor beyond his chair term, which concludes on May 15, 2026. This decision comes amid significant political pressure and criticism from the Trump administration, which has targeted the Federal Reserve in recent months. Powell indicated that he hopes the political climate surrounding the institution will stabilize, allowing for a more focused approach to monetary policy. The specific length of time he will serve as a governor remains undetermined, but he emphasized his commitment to the Federal Reserve's mission during this turbulent period. This announcement was made following his last policy meeting as chair, marking a pivotal moment for the central bank's leadership.