Jerome Powell’s current term as Chair of the Federal Reserve ends on May 15, 2026. He can continue serving as a member of the Federal Reserve Board until his separate governor term expires on January 31, 2028.

Fed chair term

Jerome Powell is serving a four-year term as Chair that runs through May 15, 2026. This chair term is distinct from his longer appointment as a Board governor.

Board governor term

Powell’s underlying term as a member of the Board of Governors is scheduled to end on January 31, 2028. After May 2026, he could remain on the Board even if no longer serving as Chair.