Federal Reserve Chairman Jerome Powell has stated that he does not intend to resign before the end of his term. Even under pressure from Donald Trump and other Congress members, he continues to maintain his stance.
Refusal to Step Down
Jerome Powell has declared that he will not leave his position at the Federal Reserve, except in the case of his death. This statement is detailed in Nick Timiraos's book *Trillion Dollar Triage*, where Powell emphasized:
> “You will not see me getting in the lifeboat. I will never, ever, ever leave this job voluntarily until my term ends under any circumstances. None, whatsoever.”
Allegations of Perjury
In 2025, Powell is facing renewed scrutiny in Congress. Bill Pulte, chairman of Fannie Mae and Freddie Mac, reported that there may be a criminal referral to the DOJ for Powell regarding alleged perjury related to his testimony on the $2.5 billion renovation of the Fed's headquarters in Washington.
> “I am told by very reliable Congressional sources that there may be a criminal referral coming from one or more Congress members to the DOJ for Jay Powell’s alleged perjury,” stated Pulte.
Trump's Opinion on the Situation
During Senate hearings, Powell claimed that the renovation costs were justified. However, Trump remarked that the renovation saga might provide grounds for his dismissal, although he stated such a scenario was unlikely. Powell insists he has all the legal grounds to continue his work at the Fed despite the political pressure.
Despite political tensions and threats of dismissal, Jerome Powell remains steadfast in his commitment to complete his term at the Federal Reserve. Time will reveal how the pressures from Trump and Congress will affect his resolve.
