Fed keeps rates unchanged with Powell remaining on Fed board
The Federal Reserve is keeping interest rates unchanged for now, even as some members push for cuts.
Jerome Powell will stay on the Fed's board after his term as chair ends next month, a move meant to block a Trump appointment while legal battles play out.
He will remain for an undetermined period of time and leave when he thinks it is appropriate, after the renovation probe is well and truly over.
Powell and Warsh raise Fed tensions
Powell's decision to stick around alongside incoming Chair Kevin Warsh could stir up more tension inside the Fed.
Warsh, approved by the Senate Banking Committee, is expected to shake things up as inflation sits at 3.3%.
Meanwhile, job growth is stalling and global uncertainties, like Middle East conflicts and rising energy prices, are making things even trickier for the economy.