Key Takeaways Federal Reserve Chair Jerome Powell’s four-year leadership term ends in May 2026.President Donald Trump has been critical of Powell this year, calling for the chair's termination before walking back those threats.

Under relentless attack from President Donald Trump, Jerome Powell needs all the allies he can get — and he has plenty in Congress, including among Republicans who show little appetite for ditching the Federal Reserve chief.

Trump said cutting interest rates would be "like jet fuel" for the economy "but he doesn't want to do it." He said Powell is "not in love with me." The Fed this week kept short-term borrowing costs in the 4.