Jerome Powell’s term as a Federal Reserve governor runs until January 31, 2028, following the end of his chairmanship in May 2026 when Kevin Warsh assumed the role. Fixed 14-year staggered terms and statutory “for cause” removal protections create high legal and procedural hurdles to an earlier exit, reinforced by recent court rulings blocking parallel attempts against other governors. Powell publicly stated in late April that he would remain on the board for an undetermined period amid administration pressure over policy and renovation costs, marking the first such post-chair tenure since 1948. Trader sentiment in related markets reflects these barriers, with low near-term probabilities priced for formal removal actions through year-end despite ongoing political tensions. Key upcoming catalysts include any new regulatory filings, congressional oversight, or shifts in administration strategy that could test the “for cause” standard before the 2028 expiration.