BlockBeats News, March 19th, Federal Reserve Chairman Powell publicly responded for the first time to the impact of the Department of Justice’s investigation on his tenure, stating that he has no intention of leaving the Board until the investigation is thoroughly completed, and may continue to serve as interim chairman until a successor is confirmed.
Powell stated that the decision to complete the Board term until 2028 has not been made and will depend on the choice that is most beneficial for the institution and the public. Currently, the Department of Justice’s investigation is still ongoing, and the relevant legal procedures are a key consideration for his continued tenure.
Meanwhile, the Federal Reserve’s latest interest rate meeting has maintained the rate in the range of 3.5% to 3.75% for the second consecutive time. Powell downplayed expectations of a short-term rate cut at the press conference, emphasizing that the current policy is close to a neutral level, and there is insufficient reason for a rate cut before the economy shows significant weakening.
