Good news: Powell will step down as Fed Chair in mid-May Bad news: He’ll continue serving as a Fed Governor and isn’t planning to leave Fed Governors have voting power on setting and implementing monetary policy, overseeing Federal Reserve banks, and deciding interest rates. Old Powell still can’t let go of the U.S. economy, worried that after he steps down, interest rates might get messed up by Trump and Walsh. Too bad the arm can’t beat the leg—America is still under Trump’s control.