The claim
“Jerome Powell's term as Fed chair expires on 15 May 2026, and he plans to stay until his successor Kevin Warsh is confirmed by the Senate.”
Coverage of the Federal Reserve leadership handover in April 2026.
Our verdict
True
Powell's term as chair ended on 15 May 2026, and he said he would stay until a successor was in place; the Senate confirmed Warsh on 13 May.
What we found
Powell's four-year term as chair ran to 15 May 2026. Trump nominated Kevin Warsh, and Powell said he would remain until his successor took over. The Senate confirmed Warsh 54-45 on 13 May, and the Fed board named Powell chair pro tempore until Warsh was sworn in. Our first version wrongly said the date was a year off.
The evidence
2 of 2 sources support the claim; none contradict it.
How we checked
We checked the claim against The MortgagePoint. We reviewed 2 relevant sources.
Sources
- [1]The MortgagePoint · Senate confirms Kevin Warsh as next Fed chair
- [2]The MortgagePoint · Fed names Powell temporary chair until Warsh is sworn in
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