Powell remains on the Federal Reserve Board of Governors following the May 2026 transition to Chair Kevin Warsh, with his statutory term running until January 31, 2028. He has publicly committed to staying until the Department of Justice investigation into the Fed’s headquarters construction project concludes with transparency, citing risks to institutional independence from ongoing legal and political pressures. No new developments on the probe or resignation signals have emerged in the past month, keeping market-implied odds of an early exit low absent fresh catalysts such as congressional hearings, administration actions, or Powell’s own statements. Traders focus on the gap between his stated intent and potential external forcing events before the 2028 expiration.