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<p>Today marks Jerome Powell’s last day as Fed chair.

Jerome has stepped down as Fed Chair after 3,018 days leading the US central bank, with Kevin Warsh confirmed as his successor.

But Powell is not fully leaving the Fed. 

He will remain on the Board of Governors until 2028, keeping a seat inside the institution as questions over Fed independence remain front and center.

For markets, this is more than a leadership change.

It is a new phase for US monetary policy, Fed communication, and the political pressure surrounding rate decisions.</p>

Today marks Jerome Powell’s last day as Fed chair.
Jerome has stepped down as Fed Chair after 3,018 days leading the US central bank, with Kevin Warsh confirmed as his successor.
But Powell is not fully leaving the Fed. 
He will remain on the Board of Governors until 2028, keeping a seat inside the institution as questions over Fed independence remain front and center.
For markets, this is more than a leadership change.
It is a new phase for US monetary policy, Fed communication, and the politic

Today marks Jerome Powell’s last day as Fed chair. Jerome has stepped down as Fed Chair after 3,018 days leading the US central bank, with Kevin Warsh confirmed as his successor. But Powell is not fully leaving the Fed. He will remain on the Board of Governors until 2028, keeping a seat inside the institution as questions over Fed independence remain front and center. For markets, this is more than a leadership change. It is a new phase for US monetary policy, Fed communication, and the political pressure surrounding rate decisions.

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