President Trump named Kevin Warsh to succeed Jerome Powell as Fed chair, ending an odyssey that has seen unprecedented turmoil around the central bank. The meeting, anticipated to be the last with Jerome Powell as Fed Chair, was dramatic, however. Four members of the Federal Open Market Committee had dissenting votes, resulting in an 8-4 decision. President Donald Trump called Federal Reserve Chair Jerome Powell either incompetent or crooked. That jerk will be gone soon, Trump said of Powell later in the day. The latest attack came as. President Donald Trump has repeatedly called on Federal Reserve Chairman Jerome Powell to slash interest rates. Powell addressed the question of whether he will stay on as a Board of Governors member after his term as chair ends. Key Points Federal Reserve Chair Jerome Powell says he will keep serving as head of the central bank if his nominated successor, Kevin Warsh, is not confirmed by the time his term is up. The Federal Reserve has not yet complied with grand jury subpoenas issued as part of a criminal investigation of Fed Chair Jerome Powell, a person familiar with the situation told CNBC. The probe. Jerome Powell, chairman of the US Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, Jan. 28, 2026. Jerome H. Powell was named chairman of the Federal Reserve's board of governors in February 2018. With this appointment, he became the 16th person serve as chair of the U.S. central bank. The saga over President Donald Trump's efforts to reshape the Fed has another twist to it, revolving over whether current Chair Jerome Powell will leave after his term at the helm is finished.