The Federal Reserve is expected to announce its decision on interest rates, its first since a federal criminal investigation into Chair Jerome Powell emerged. Despite pressure from President Trump to lower rates, the Fed is likely to maintain current levels, following a cautious approach outlined by Powell. The investigation focuses on Powell’s congressional testimony regarding cost overruns in a renovation project, raising concerns about the Fed’s independence. Powell’s term expires in May, but he can remain on the board until 2028, with no indication of his future plans.
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