Federal Reserve Chairman Jerome Powell attends a meeting of the Board of Governors of the Federal Reserve System in Washington, DC on March 19, 2026.
Kevin Dietch | Getty Images
Federal Reserve Chairman Jerome Powell said on Wednesday that he would remain in his role as head of the Fed beyond the end of his term as head of the Fed, prompting Calsi bettors to call for an event.
Bettors had given a 30% chance that Powell would resign as a member of the Fed’s board by June.
“I have said I will not leave the Board until this investigation is fully and truly concluded with transparency and finality, and I stand by that,” Powell said near the beginning of Wednesday’s post-meeting press conference.
He also said in March that he would not resign until the Justice Department’s criminal investigation into him was resolved. On Friday, the Justice Department suspended its investigation into Mr. Powell.
Powell’s remarks came as President Donald Trump’s nominee Kevin Warsh advanced on the Senate Banking Committee and moved closer to becoming its chairman.
Trump and Powell have clashed since the start of the president’s second term last year. The White House is frustrated that the Fed hasn’t cut rates as quickly and as sharply as the Trump administration would like. Some observers have worried that Mr. Trump appointed Mr. Warsh to push his views on interest rates, but Mr. Warsh pushed back on those concerns, saying he believed in the Fed’s independence.
Kalsi bettors still think Powell will retire by the end of 2027, with a 76% chance. Technically, Powell’s term as president ends in 2028.
Disclosure: CNBC and Kalsi have a commercial relationship that includes a minority investment in CNBC.
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