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flag Fed Chair Powell avoids comment on DOJ probe, keeps rates steady amid political pressure.

flag At a press conference on January 28, Federal Reserve Chair Jerome Powell declined to comment on a Department of Justice investigation into his behavior or his plans after his term ends in May 2026. flag He stressed the independence of the Fed, advised aspiring leaders to stay out of politics, and emphasized consistent communication with Congress. flag With no indications of a June rate cut, the Fed unanimously kept interest rates between 3.5% and 3.75%. flag President Trump is attempting to remove Governor Lisa Cook and is pushing for a chair who supports aggressive cuts, so political scrutiny is still intense. flag Rick Rieder, Kevin Hassett, Christopher Waller, and Kevin Warsh are possible heirs. flag Powell justified his presence at a Supreme Court hearing on Cook's case by describing it as a crucial occasion for the Fed.

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