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When does Jerome Powell’s term as Fed chair end?
President Trump has not been subtle in his dislike of Fed Chair Powell. But the question of whether or not Trump can fire Powell is seemingly moot given that his term as Fed chair is up in just a few months – on May 15, 2026.
It’s unlikely that those in Trump’s inner circle will encourage him to disrupt the status quo and replace Powell before his term is over – which could potentially send stocks and bonds tumbling – given that there’s such a small amount of time left.
And the president is widely expected to announce his choice for Powell’s replacement any day now. Top candidates include former Fed governor Kevin Warsh, Director of the National Economic Council Kevin Hassett and Rick Rieder, BlackRock’s chief investment officer of fixed income.
For what it’s worth, Powell’s term as a member of the Board of Governors of the Federal Reserve ends on January 31, 2028.
– Karee Venema
Expect more volatility this week, says Wedbush
Last week’s volatility in the stock market, which saw the S&P 500 explore a 145-point intraday trading range and the Cboe Volatility Index (VIX) hit its highest level since November, was sparked by President Trump’s turnaround on a potential annexation of Greenland and a new round of tariffs on Europe.
Wedbush analyst Seth Basham expects more volatility this week as market participants sift through a jam-packed earnings calendar and assess the January Fed meeting.
As for the Fed meeting, Basham expects the central bank to maintain a more cautious approach despite political pressure.
“We expect Fed Chair Powell to signal heightened caution at upcoming meetings,” the analyst writes in a January 25 note. “With the administration running the economy hot and PCE inflation still roughly 80 basis points above the 2% target, policy changes are likely to pause for some time.”
And given Powell is near the end of his term, Basham believes “he’s likely to maintain vigilance against inflation, even if it means disappointing equity investors and the President who are seeking easier financial conditions.”
– Karee Venema
Fed meeting schedule for 2026
The next Fed meeting, which runs from January 27 to January 28, marks the first gathering of 2026.
“The committee meets eight times a year, or about once every six weeks,” writes Kiplinger contributor Dan Burrows in his feature, “When Is the Next Fed Meeting?“.
The Federal Open Market Committee “is required to meet at least four times a year and may convene additional meetings if necessary,” Burrows adds, noting that “the convention of meeting eight times per year dates back to the market stresses of 1981.”
Fed meetings last two days and wrap up with the release of a policy decision at 2 pm Eastern Standard Time. This is typically followed by the Fed chair’s press conference at 2:30 pm.
Here is the full Fed meeting schedule for 2026:
January 27 to 28
March 17 to 18
April 28 to 29
June 16 to 17
July 28 to 29
September 15 to 16
October 27 to 28
December 8 to 9
– Karee Venema
Karee Venema
With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021, and oversees a wide range of investing coverage, including content focused on equities, fixed income, mutual funds, ETFs, macroeconomics and more.
