Article #14347

Chair planned to exit after inquiry into building renovations but will now oversee ‘remaining steps in the process’

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The US Federal Reserve chair, Jerome Powell, will remain on the central bank’s rate-setting board after his term as chair ends in May, a contentious move that signals continued uncertainty at the Fed.

Powell made the announcement after the Fed board on Wednesday left interest rates unchanged for the third time this year, despite Donald Trump’s continued demands for rate cuts.