Federal Reserve Chairman Jerome Powell has announced that he will remain on the central bank's board as a Governor after his term concludes in May. During a press conference after the Fed's decision to keep interest rates steady at 3.5%-3.75%, Powell expressed concerns about ongoing legal challenges facing the central bank, stating that they have forced him to stay on, despite his desire to maintain a low profile. Powell noted that these attacks threaten the institution and its ability to implement monetary policy without political influence.
The decision to keep rates unchanged was expected, but the dissent from three Governors was notable. The Fed's hawkish tone has impacted risk assets, with bitcoin prices slipping below the $75,000 support level. Attention is now focused on potential policy changes, including the possibility of rate cuts and the passage of the CLARITY Act, which could lead to a significant increase in bitcoin's value.