Federal Reserve Board Unanimously Reappoints Regional Bank Presidents in 'Trump-Proofing' Move

The Federal Reserve Board unanimously reappointed 11 of 12 regional bank presidents to five-year terms beginning March 1, 2026, in what was described as “Trump-proofing” the Fed. The move closed a potential loophole that could have allowed political interference with regional bank leadership. Notably, all three Trump-appointed governors voted in favor of the reappointments. The FOMC also has the power to select its own chair, meaning Powell could potentially continue leading monetary policy meetings even after a new board chair is installed, as he holds two separate positions: Chair of the Board of Governors and Chair of the FOMC.