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Powell Says He Will Stay on Fed Board After Term Amid Legal Pressure
The Fed held interest rates at 3.5%-3.75% on Wednesday. Jerome Powell said he will remain on the Fed’s board as Governor after his term ends in May because legal pressure leaves him with no choice. Powell said he plans to keep a low profile and warned that attacks on the Fed could undermine politically independent monetary policy. 21Shares macro analyst Matt Mena said dissent from three Governors and a hawkish tone weighed on risk assets, with bitcoin slipping below $75,000.