Jerome Powell's final rate decision as Fed chair

Jerome Powell announced that the Federal Reserve will keep US interest rates steady between 3.5% and 3.75% during what is expected to be his final meeting as chair. This decision follows pressures from President Trump, who has criticized Powell's actions. Powell remains on the Fed board until an administration probe is resolved.

He warned that the Trump administration's legal attacks threaten the Fed's independence and monetary policy. Kevin Warsh, expected to succeed Powell, is likely to face similar pressures but has vowed to uphold the Fed's independence. Warsh's confirmation is imminent, with support from Senate Republicans.