"Jerome Powell announced he will remain on the Federal Reserve Board of Governors after his term as Fed chair concludes, becoming the first Fed chair to do so since Marriner Eccles in 1948."
"The Fed held rates steady, but four members dissented, with one voting to cut and three objecting to the statement's wording on future cuts."
"The federal funds rate sits at an upper bound of 4%, unchanged since December 11, 2025, while inflation pressure has been building underneath that pause."
"WTI crude closed at $105.20 per barrel on April 27, up 77.62% over the past year, with inflation surging at its biggest pace in nearly four years."
Jerome Powell's decision to stay on the Federal Reserve Board after his term as chair concludes is unprecedented since 1948. This move comes amid a divided Fed, with four members dissenting during a recent meeting. The federal funds rate remains at 4%, unchanged since December 2025, while inflation pressures are rising, particularly due to surging energy prices. The Core PCE index has increased, indicating significant inflationary trends. Powell's presence alongside his successor will influence future policy discussions.
Read at 24/7 Wall St.
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