“Federal Reserve officials extended an interest-rate pause on Wednesday but split over the outlook for lower interest rates, marking a contentious end to Jerome Powell’s eight-year chairmanship,” the Wall Street Journal reports.
“Powell also said he would remain on the Fed board as a governor at least until the resolution of legal challenges President Trump has mounted against the central bank. While Powell’s term as governor allows him to remain at the Fed until early 2028, it represents an unusual arrangement because for decades, Fed chairs have left the building when their successor is installed.”
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