Jerome Powell will step down as Chair of the Federal Reserve on May 15, concluding an eight-year tenure marked by significant economic challenges and policy shifts. Powell, who was not trained as an economist, led the Fed through the pandemic, implementing zero interest rates and quantitative easing to stabilize the economy. Despite initial missteps in labeling inflation as "transitory," Powell's aggressive rate hikes eventually controlled inflation without triggering a severe recession, achieving a "soft landing." Under Powell's leadership, the Fed raised the federal funds rate to 5.25%–5.5% through 11 consecutive hikes, the most aggressive cycle since the 1980s. His tenure also focused on maintaining the Fed's independence amid political pressures and a criminal investigation related to a renovation project. Powell's departure marks the end of a period characterized by both high inflation and economic resilience.