Fed expected to keep rates unchanged
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The US Federal Reserve has voted to hold interest rates as its chair, Jerome Powell, defended the importance of central bank independence. The Fed said it will keep its key lending rate between 3.5% to 3.75%, stating that economic activity in the US "has been expanding at a solid pace".
U.S. Treasury yields rose on Thursday as investors weighted the state of the economy after the U.S. Federal Reserve held interest rates steady.
The Federal Reserve is nearing an interest rate decision at its January meeting. Jerome Powell is under growing pressure amid a DOJ investigation.
Jerome Powell advises his successor to stay out of politics and work with Congress as the Fed chair discusses his future at the central bank during a Wednesday press conference.
The Fed chair has been asked four times whether he’ll stay on the board after his term as chair is up. His silence is the strategy.
The Fed's budget showed the project's current estimated cost at $2.46 billion, up from $1.88 billion in 2024, a difference of about $580 million. The document shows that the Fed eliminated the planned renovation of a third building - cutting about $510 million in costs.
The Trump administration has unleashed a barrage of attacks on the Federal Reserve, including a criminal investigation into its chair, Jerome H. Powell.
The Federal Reserve is expected to keep its key interest rate at the target range of 3.5% to 3.75%, but traders are looking for hints on next steps for policy.