It's been apparent for more than a year that Powell wouldn't be back for a third four-year term. Sitting presidents are responsible for nominating the head of the Fed, and Trump and Powell have been publicly bickering about interest rates since the beginning of the president's second,

The Fed is expected to hold rates steady, at what's likely to be Jerome Powell's last meeting as chair — with Kevin Warsh looking set to replace him.

Federal Reserve Chair Jerome Powell is drawing backlash from Trump administration figures and allies after announcing his plans to stay at the central bank beyond his chairmanship. Powell said Wednesday that he will remain on the Fed board for an undetermined amount of time after Kevin Warsh takes over as chair given the various legal threats he believes the bank still faces.

When the Fed gathers again, it will mark the first time a sitting and former chair conduct business together in nearly 80 years.

Federal Reserve Chair Jerome Powell recently said the economic outlook remains highly uncertain and the Iran conflict is making the situation worse. JPMorgan Chase strategists believe the Federal Reserve is done cutting rates;

Jerome Powell plans to remain on the board of the Federal Reserve after his term as chair ends next month “for an undetermined period of time,” saying the “unprecedented” legal attacks by the Trump administration have put the independence of the nation’s central bank at risk.

US Attorney for the District of Columbia Jeanine Pirro said Sunday that she may reopen a criminal investigation into Federal Reserve Chair Jerome Powell, depending on what an inspector general’s probe uncovers over building renovations at the Federal Reserve.