JAKARTA — For investors worldwide, the familiar greeting of “good afternoon” from Federal Reserve Chair Jerome Powell during post-meeting press conferences has long been a bellwether for global markets. However, the remarks delivered at the conclusion of the Federal Open Market Committee (FOMC) meeting on Thursday, April 30, 2026, marked a bittersweet milestone: it was the final time Powell would preside over the session as Chair, with his term set to conclude on May 15.
During the press conference, Powell addressed the impending leadership transition, confirming that Kevin Warsh—who is currently undergoing the confirmation process—is poised to succeed him. Powell expressed confidence in Warsh’s ability to foster consensus among committee members, noting that the transition is proceeding smoothly. “I want to congratulate Kevin Warsh on his progress after passing the Senate Banking Committee this morning. This is a significant step forward, and I wish him the very best as the process continues,” Powell stated.
While stepping down as the head of the Federal Reserve, Powell clarified that he will not be departing the institution entirely. Instead, he intends to remain on the Board of Governors. “I will remain as a governor for a term yet to be determined,” he explained. Powell emphasized that his future role will be intentionally limited to ensure he does not overshadow the new leadership, stating, “I plan to maintain a low profile as a governor.”
This leadership handover comes at a challenging time, as the Federal Reserve faces mounting external pressures. Powell has been vocal about the series of legal challenges facing the central bank, which he warns could threaten the independence of monetary policy. These institutional threats are a primary factor in his decision to remain at the Fed temporarily rather than retiring as originally planned.
“I will not leave the Board until these investigations are fully resolved with complete transparency and certainty,” Powell affirmed. He noted that while he had initially intended to retire, recent developments have forced him to prioritize the sustainability and stability of the institution over his personal plans. “I will stay until I feel it is the right time to go,” he added.
Throughout his closing remarks, Powell underscored the critical importance of shielding the central bank from political influence, cautioning that recent legal pressures could hinder the Fed’s ability to execute objective monetary policy. Bringing his final press conference as Chair to a close, Powell delivered a poignant, final sign-off: “I won’t see you next time.”
Summary
Federal Reserve Chair Jerome Powell presided over his final FOMC press conference on April 30, 2026, ahead of the conclusion of his term on May 15. He expressed his support for his successor, Kevin Warsh, and confirmed that the leadership transition is proceeding smoothly. Despite stepping down as Chair, Powell announced he will remain on the Board of Governors to ensure institutional continuity during a period of transition.
Powell decided to extend his tenure as a governor to address ongoing legal challenges that threaten the Federal Reserve’s independence. He emphasized the necessity of shielding monetary policy from political influence and stated that he will not fully depart until these investigations are resolved. His tenure concluded with a final public sign-off, marking the end of his significant leadership role at the central bank.