Jerome Powell reveals plan to stay at Fed
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Federal Reserve held its target range for the federal funds rate at 3.5 to 3.75 percent on Wednesday, a decision markets had fully priced in.
President Trump's pick to lead the Federal Reserve, Kevin Warsh, has said he wants to bring “regime change" to the central bank, but if confirmed by the Senate he will find a Fed already transformed by the White House's attacks.
Federal Reserve Chairman Jerome Powell said the war in Iran risks pushing inflation higher and lowering economic growth the longer it continues to strangle the global energy market. Speaking to reporters on Wednesday after the Fed voted 8-4 to keep target interest rates unchanged,
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Fed holds interest rates steady in Powell’s last meeting—with most dissenting votes since 1992
The Federal Reserve on Wednesday voted to hold interest rates despite recording the most dissenting votes in decades, concluding Jerome Powell’s final meeting as the central bank’s chair amid a contentious relationship with President Donald Trump.