However, Powell’s term as Fed governor is till January 2028, allowing him to legally be a part of monetary policy decisions at the central bank. In previous media interactions, though, Powell has refused to comment on his intentions to stay governor.

Treasury Secretary Scott Bessent told Bloomberg on Tuesday a “formal process” has been launched to find Federal Reserve Chair Jerome Powell’s successor, following months of pressure from President Donald Trump to have Powell step down from his role at the agency.

It hasn't been an easy start to 2025 for Jerome Powell. Unfortunately for the Fed chair, the second half of the year is likely to be even tougher.

William Pulte , Chairman of the Board of Fannie Mae and Freddie Mac, said on July 11, “I’m encouraged by reports that Jerome Powell is considering resigning. I think this will be the right decision for America, and the economy will boom.”

A top White House budget official said President Trump is "troubled" by Federal Reserve chair Jerome Powell's management, as Mr. Trump pressures him over interest rates.

In an interview with ABC News, Kevin Hassett was also pressed about the president's decision to hit imports from Brazil with steep tariffs.

Potential removal of Fed Chair Jerome Powell could disrupt markets, spike inflation expectations, and impact the USD and bonds.

Is the Fed chairman, Jay Powell, going to make it through the weekend? There is talk that he is being forced to resign. President Trump, of course, is on