National

The Federal Reserve announced Monday that Janet Yellen will leave after her successor, Trump-nominated Jerome Powell, takes over. Her four-year term as chairwoman comes to an end on February 3, 2018, but she could have remained on the board until 2024.

Why it matters: Trump will now get to fill four seats on the seven-member Federal Reserve Board of Governors

Yellen to leave Federal Reserve once new chair takes over

Her four-year term comes to an end on February 3, 2018.

Federal Reserve Chair Janet Yellen during an awards ceremony earlier this month. Photo: Jacquelyn Martin / AP

Business

Federal Reserve

The Federal Reserve <a class="gtmContentClick" data-vars-link-text="announced Monday" data-vars-click-url="https://www.federalreserve.gov/newsevents/pressreleases/other20171120a.htm" data-vars-content-id="91d5b1a5-cde3-493f-8af1-91fcb412d708" data-vars-headline="Yellen to leave Federal Reserve once new chair takes over" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.federalreserve.gov/newsevents/pressreleases/other20171120a.htm" target="_blank">announced Monday</a> that Janet Yellen will leave after her successor, Trump-nominated Jerome Powell, takes over. Her four-year term as chairwoman comes to an end on February 3, 2018, but she could have remained on the board until 2024.Why it matters: Trump will now get to fill four seats on the seven-member Federal Reserve Board of Governors<a class="gtmContentClick" data-vars-link-text="Read her letter to the president." data-vars-click-url="https://www.federalreserve.gov/newsevents/pressreleases/files/other20171120a1.pdf" data-vars-content-id="91d5b1a5-cde3-493f-8af1-91fcb412d708" data-vars-headline="Yellen to leave Federal Reserve once new chair takes over" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.federalreserve.gov/newsevents/pressreleases/files/other20171120a1.pdf" target="_blank">Read her letter to the president.</a>

2024 will be an election year like no other, as President Biden seeks re-election amid economic uncertainty, two wars and questions about his age. His likely foe, former President Trump, faces felony charges and vows revenge on his political enemies. Meanwhile, Americans generally are dissatisfied with those choices and are divided over immigration, race, education and more.

Politics & Policy

topics

politics-policy

epstein-files

donald-trump

2026-midterm-elections

immigration

behind-the-curtain

race-and-equity

technology

privacy-tech-regulation

automation-and-ai

tiktok-news

big-tech

social-media

cybersecurity

economy

social-security

inflation

tariffs

federal-reserve

jobs

transportation

business

c-suite

retail-news

crypto

media

elon-musk

dealmaking

health

rfk-jr

drug-prices

axios-explains-abortion

public-health

world

israel

axios-explains-ukraine

iran

russia

china

energy-climate

nuclear-energy

climate-energy-policy

climate-change

extreme-weather

alternative-energy

electric-vehicles

science

emerging-tech

biomedicine

newsletters

charlotte

salt-lake-city

denver

boulder

kansas-city

austin

chicago

dallas

detroit

washington-dc

atlanta

indianapolis

nashville

nw-arkansas

columbus

richmond

san-francisco

boston

des-moines

houston

phoenix

miami

philadelphia

seattle

new-orleans

colorado-springs

huntsville

raleigh

san-antonio

twin-cities

pittsburgh

arapahoe

douglas

san-diego

tampa-bay

portland

cleveland

axios-local

axios-pro

axios-live

the-axios-show

Yellen to leave Federal Reserve once new chair takes over

What to read next