Powell: Will Not Leave Board Even if Chairman's Term Expires if Subjected to Investigation

ZkProver · 2026-03-16T04:31:13+00:00

The attorney for Federal Reserve Chair Powell mentioned during a meeting with the Department of Justice that Powell might continue to serve as a Federal Reserve governor after his term ends, a decision that would break precedent. This discussion was related to the Federal Reserve's efforts to prevent the Justice Department from pursuing a criminal investigation into Powell.

ZkProver

2026-03-16 04:31:13

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ChainCatcher News: Last Friday, declassified documents revealed that Federal Reserve Chair Jerome Powell’s lawyer suggested during a January meeting with the Department of Justice that Powell might continue to serve as a Federal Reserve Board member after his term ends in May — a decision that would break precedent.

These documents are part of a case in which the Federal Reserve attempted to block subpoenas related to a criminal investigation by the Department of Justice into Powell’s handling of the renovation of the Federal Reserve’s Washington headquarters. Last Friday, a district court judge ruled in favor of the Fed, blocking these subpoenas.

During the debate over the Fed’s motion, a Department of Justice lawyer stated that at a meeting on January 29, Powell’s lawyer told U.S. District Attorney Jeannine Pirro, “Chairman (Powell) believes that if he is still under investigation, he will not leave the Board even after his term ends; and although he cannot say otherwise, if he is no longer facing criminal investigation, the Chairman’s image would be different, and he would be able to make decisions focused on his family freely.”

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