FOMC holds as Powell decides to stay on – Central Banking
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Outgoing chair to remain as governor, citing uncertainty over further potential criminal probes
Jerome Powell has vowed to stay on as a member of the Federal Reserve board after his term as chair ends next month, citing what he regarded as the unresolved nature of the Department of Justice’s criminal investigations.
Powell used the press conference following the Federal Open Market Committee’s rates decision today (April 29) to state that he would only leave the Fed board “when I think it’s appropriate to do so”. His decision, he said, followed the Department of Justice’s statement last
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