Powell stays on Fed board as rates hold steady amid political pressure

The Federal Reserve kept interest rates unchanged and Powell announced he will remain on the Fed’s rate‑setting board after his chair term ends in May, saying he wants to finish related investigations without letting politics influence decisions. The hold comes amid elevated inflation, slow job growth, and geopolitical tensions, with a whisper of dissent on the board about future cuts. Former Fed governor Kevin Warsh’s Senate confirmation could tilt policy toward easier cuts, but he cannot act alone. Rates have declined from 5.25–5.5% last year to about 3.5–3.75% today.