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Powell resigns as head of US Federal Reserve, Fed keeps interest rates unchanged
2026-04-29 23:31:42 / BOTA
The Federal Reserve (Fed) decided, as expected, to keep interest rates unchanged in the 3.5%–3.75% range, in what appears to be the last meeting of the Monetary Policy Committee under the leadership of Jerome Powell.
Powell, who is completing eight years at the helm of the Fed, welcomed his successor, Kevin Warsh, and announced that he will continue to hold the post of governor of the federal bank even after the end of his term as chairman of the institution on May 15.
He promised to maintain a low public profile, while also expressing satisfaction with the closure of the criminal investigation against him.
According to Powell, he intends to stay at the Fed at least until the conclusion of the ongoing investigations by the inspector general regarding cost overruns in the reconstruction of the headquarters.
If his nomination is approved by the Senate, Kevin Warsh will take over from Powell on May 15.
Earlier in the day, a Senate committee gave the green light for his nomination with only the votes of Republican members, while Democrats have described him as a "puppet" of President Donald Trump.
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