Federal Reserve Chair Jerome Powell has announced his intention to remain on the central bank's board as a Governor after his term concludes in May. This decision was revealed during a press conference that followed the Fed's choice to maintain interest rates at 3.5%-3.75%. Powell expressed concerns over the legal challenges facing the central bank, stating that these pressures have compelled him to stay, despite his preference for a lower profile.
"The ongoing attacks on the institution risk undermining its ability to implement monetary policy without political interference," Powell stated. The decision to keep interest rates unchanged was anticipated, but the dissent from three Governors was notable, according to macro analyst Matt Mena.
The firm stance adopted by the Fed has had a cooling effect on risk assets, with bitcoin slipping below the $75,000 support level. Market focus is now shifting towards potential future policy adjustments, with the possibility of rate cuts and the passage of the CLARITY Act being closely watched.