Jerome Powell Delivers Likely Final Speech as Fed Chairman as Rates Hold
Fed holds rates steady amid inflation, labor market softness, and global uncertainty, with three officials dissenting on the policy path, marking the most dissents since 1992.
- On Wednesday, the United States Federal Reserve held interest rates steady at 3.5 to 3.75 percent, citing elevated inflation and high economic uncertainty regarding the Middle East. Fed Chair Jerome Powell presided over his final policy meeting as chairman.
- Inflation remains elevated partly due to rising global energy prices, while job gains have remained low. Four officials dissented against the decision, including one member favoring an immediate rate cut—marking the most dissents since 1992.
- The Senate Banking Committee approved Kevin Warsh's nomination to succeed Powell in a party-line vote on Wednesday. Massachusetts Senator Elizabeth Warren questioned his independence, accusing him of being a "sock puppet" for President Donald Trump.
- Rejecting calls to resign, Powell announced he will remain on the Board of Governors until 2028. He expressed concerns that political attacks on the central bank threaten its ability to conduct monetary policy without external influence.
- Warsh has long praised Trump's "deregulatory agenda," calling it "the most significant since President Ronald Reagan's." Critics remain skeptical about his future independence, despite his denials that Trump demanded specific interest rate commitments.
14 Articles
14 Articles
In a split vote, the most unequal in 34 years, Jerome Powell will leave the US Federal Reserve (Fed) presidency without changing the interest rate – for the third consecutive monetary policy meeting – in a range of 3.5 to 3.75 percent.
Zeit Online
INTELLINEWSOn his last appearance as U.S. Federal Reserve Chief, Jerome Powell defends the Fed's independence. He calls the interventions of the Trump administration unique in history.
The Fed’s Latest Move As Powell Prepares to Exit
The Federal Reserve left interest rates unchanged on Wednesday as Jerome Powell presided over his last meeting as chairman.The Fed held the rates steady at 3.5-3.75%, set after the last cut in December of 2025, in a split (8-4) vote — the highest dissent level since 1992. Amid the ongoing tensions in Iran, the Federal Reserve has been engaged in a difficult balancing act, facing threats from inflation — with oil prices up 70% on the year — and a…
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