The World Blog by humble servant.

The latest developments from Washington and the Federal Reserve confirm that Jerome Powell is digging in his heels to protect the central bank's independence. Despite significant political pressure and a looming leadership transition, Powell has signaled a commitment to finishing his term on the Board of Governors, ensuring a steady hand remains in the room. The Powell Stand-Off: "I'm Not Leaving" The primary news regarding Powell’s tenure involves a rare move in Fed history. While his term as Chair officially expires on May 15, 2026 , his term as a Governor runs until January 2028 . The Power Play: Powell has explicitly stated he will not leave the Board until the ongoing Justice Department investigations into Fed operations are concluded with "transparency and finality." White House Friction: This decision complicates the administration’s plans. While Kevin Warsh has been nominated to succeed Powell as Chair, Powell staying on the Board as a vo...