Powell's term as Fed Chairman will expire in May 2026, and he has said he will not resign voluntarily

according to Reuters, Powell has said that U.S. law does not allow the president to dismiss him, even if Trump requests it, he will not resign voluntarily, and plans to serve the full term, continuing as Federal Reserve chairman until May 2026.

In addition, Powell's term as a member of the Federal Reserve Board will continue until January 2028. He also said this week that he believes the case currently being heard by the U.S. Supreme Court is unlikely to apply to the Federal Reserve.