Janet L. Yellen, chairwoman of the Federal Reserve, said on Monday that she would step down from the Fed’s board at the same time that she ends her term as chairwoman.

President Trump decided earlier this month to nominate Jerome H. Powell, a Republican who sits on the Fed’s board, as the next chairman, deciding against offering Ms. Yellen a second term. Ms. Yellen, whose term as chairwoman ends in February, could have remained on the Fed board until her term as governor expires in 2024.

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