Institutions
Member, Board of Governors of the Federal Reserve System; former Federal Reserve Chair
Newest first
Kevin Warsh was sworn in as Federal Reserve chair on May 22, ending Powell’s chair service. Federal Reserve records continue to list Powell as a member of the Board of Governors, with his separate Board term running through January 31, 2028.
Open this record ↓The Justice Department ended its criminal investigation into the Federal Reserve renovation and Powell’s congressional testimony after a federal judge had quashed subpoenas and found essentially no evidence supporting suspicion of a crime. A separate Federal Reserve inspector-general review continued.
Open this record ↓Chief U.S. District Judge James Boasberg later quashed the subpoenas, finding abundant evidence that their dominant purpose was to pressure Powell to lower rates or resign and that the government had produced essentially no evidence that Powell committed a crime. The Justice Department later ended the criminal investigation.
Open this record ↓No records on this profile currently match that subject.
Jerome H. Powell first joined the Federal Reserve Board of Governors in May 2012 and was reappointed in June 2014 to a term ending January 31, 2028. He served as chair of the Board and of the Federal Open Market Committee from February 5, 2018 until May 22, 2026.
When Powell’s chair term ended in May 2026, the Board briefly designated him chair pro tempore while Kevin Warsh awaited swearing-in. Warsh took office as chair on May 22. Powell did not leave the Board: official Federal Reserve membership records continued to list him as a governor, and he continued participating in Board and FOMC votes after the leadership transition.
Powell’s final months as chair were marked by unusually intense political and legal pressure over interest rates and a Federal Reserve headquarters renovation. A federal judge quashed Justice Department subpoenas after finding that prosecutors had produced essentially no evidence of a crime and that the subpoenas were issued for an improper purpose. The Justice Department ended the criminal investigation in April 2026, while a separate Federal Reserve inspector-general review continued.
18% evidence gapWELL SUPPORTEDPowell said the criminal investigation was not really about the renovation or his congressional testimony, but was a consequence of the Federal Reserve setting interest rates according to its public mandate rather than the President’s preferences.
Chief U.S. District Judge James Boasberg later quashed the subpoenas, finding abundant evidence that their dominant purpose was to pressure Powell to lower rates or resign and that the government had produced essentially no evidence that Powell committed a crime. The Justice Department later ended the criminal investigation.
The Justice Department disputed the judge’s reasoning, sought reconsideration and argued investigators were entitled to pursue the renovation and testimony issues at an early investigative stage.
Limits / uncertainty: The court ruling addressed the purpose and evidentiary basis of the subpoenas; it did not establish every participant’s subjective motive or resolve the separate inspector-general review of renovation management.
