Institutions
Member, Board of Governors of the Federal Reserve System; former Federal Reserve Chair
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Kevin Warsh was sworn in as Federal Reserve chair on May 22, ending Powell’s chair service. Federal Reserve records continue to list Powell as a member of the Board of Governors, with his separate Board term running through January 31, 2028.
Open this record ↓The Justice Department ended its criminal investigation into the Federal Reserve renovation and Powell’s congressional testimony after a federal judge had quashed subpoenas and found essentially no evidence supporting suspicion of a crime. A separate Federal Reserve inspector-general review continued.
Open this record ↓Chief U.S. District Judge James Boasberg later quashed the subpoenas, finding abundant evidence that their dominant purpose was to pressure Powell to lower rates or resign and that the government had produced essentially no evidence that Powell committed a crime. The Justice Department later ended the criminal investigation.
Open this record ↓No records on this profile currently match that subject.
Jerome H. Powell remains a member of the Federal Reserve Board of Governors after serving as chair from February 2018 through May 22, 2026. His current Board term runs through January 31, 2028. His profile tracks monetary-policy statements, White House pressure on the central bank, the 2026 Justice Department investigation and the transition to Chair Kevin Warsh.
Current record notes: {'id': 'powell-warsh-transition-2026-05-22', 'date': '2026-05-22', 'display_date': 'May 22, 2026', 'subjects': ['office-role', 'economy-trade'], 'title': 'Powell’s chairmanship ends; he remains a Federal Reserve governor', 'summary': 'Kevin Warsh was sworn in as Federal Reserve chair on May 22, ending Powell’s chair service. Federal Reserve records continue to list Powell as a member of the Board of Governors, with his separate Board term running through January 31, 2028.'} {'id': 'powell-doj-probe-ended-2026-04-24', 'date': '2026-04-24', 'display_date': 'April 24, 2026', 'subjects': ['ethics-legal', 'crime-law-enforcement', 'economy-trade'], 'title': 'Justice Department ends Powell criminal probe after court blocks subpoenas', 'summary': 'The Justice Department ended its criminal investigation into the Federal Reserve renovation and Powell’s congressional testimony after a federal judge had quashed subpoenas and found essentially no evidence supporting suspicion of a crime. A separate Federal Reserve inspector-general review continued.'}
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18% evidence gapWELL SUPPORTEDPowell said the criminal investigation was not really about the renovation or his congressional testimony, but was a consequence of the Federal Reserve setting interest rates according to its public mandate rather than the President’s preferences.
Chief U.S. District Judge James Boasberg later quashed the subpoenas, finding abundant evidence that their dominant purpose was to pressure Powell to lower rates or resign and that the government had produced essentially no evidence that Powell committed a crime. The Justice Department later ended the criminal investigation.
The Justice Department disputed the judge’s reasoning, sought reconsideration and argued investigators were entitled to pursue the renovation and testimony issues at an early investigative stage.
Limits / uncertainty: The court ruling addressed the purpose and evidentiary basis of the subpoenas; it did not establish every participant’s subjective motive or resolve the separate inspector-general review of renovation management.