Fed Holds Rates; Powell's Future as Chair Uncertain

In a significant development, the Federal Reserve (Fed) maintained interest rates, marking the final meeting for Chair Jerome Powell in his current role. Powell's future as Fed chair remains uncertain, with President Trump hinting at potential replacements. The Fed's independence was a key topic, with some officials advocating for a more symmetrical reaction function in monetary policy. Meanwhile, Powell's stance on the Fed's building construction project sparked controversy, with critics arguing he's blocking necessary investigations.