On the eve of his term's expiration on May 15, Federal Reserve Chair Jerome Powell publicly stated following the recent policy meeting that he will remain at the Fed as a governor after stepping down as Chair, with his term extending until early 2028. This arrangement breaks from the decades-long tradition where outgoing chairs depart concurrently with the arrival of their successors. Powell directly linked his decision to external pressure, stating that legal actions from the Trump administration constitute an "unprecedented attack." In his view, these measures threaten the Fed's ability to set monetary policy free from political interference and undermine the institution's stability. Just one week prior to his statement, officials from the U.S. Department of Justice had suspended an investigation into whether his oversight of a renovation project at the Fed building involved criminal issues. Previously, in March, a court halted a subpoena issued to the Fed, while the Senate had also threatened to indefinitely delay the confirmation process for the nomination of Kevin Warsh. Powell indicated that the ongoing legal dispute left him with "no choice" but to remain in his position until the related issues are addressed in a "full and transparent" manner. He also emphasized that he will perform his duties in a "low-key" fashion and will not interfere with Warsh's leadership of the Federal Open Market Committee (FOMC).