Powell Says He Will Stay on Fed Board After Chair Term Ends

Jerome Powell said he will remain on the Federal Reserve board after his term as chair ends in May, as the Fed kept rates at 3.5% to 3.75%. Powell said legal and political pressure on the institution pushed him to stay rather than leave entirely. Three Fed governors dissented by seeking to remove easing guidance. Bitcoin fell below $75,000 after the hawkish tone.

BTC2.27%
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