As head of the Fed since 2018, Powell’s actions and decisions have a big impact on the residential real estate industry. His decisions for the Fed have a direct impact on the real estate industry by shaping mortgage rates, influencing borrowing costs and impacting consumer confidence. President-elect Donald Trump and his Treasury secretary pick, Scott Bessent, were both critical of Powell but stated they intended to leave him in charge of the U.S. central back for the duration of his term (which ends in May 2026).