Powell to stay on Federal Reserve board as policy makers hold rates steady
Federal Reserve Chair Jerome Powell announced he will remain on the Fed's board as a governor after his term ends in May, emphasizing concerns over the central bank's independence amid political pressures. The Fed held interest rates steady at 3.5% to 3.75% for the third consecutive meeting, citing elevated inflation linked to rising global energy prices and uncertainty from the Middle East conflict. Powell's decision marks a rare move, underscoring his commitment to the Fed's nonpartisan mission and institutional stability during a period of economic and political challenges.
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MoneyWatch Fed holds interest rates steady for third straight meeting, as Powell vows to remain as governor .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Aimee Picchi Aimee Picchi Associate Managing Editor, MoneyWatch Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.
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