Powell to Remain Governor After Term Amid Pressure
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- Jerome Powell will stay on the Federal Reserve Board as a governor after his chairmanship ends in May, citing ongoing legal and political attacks that threaten the Fed’s independence.
- Federal Reserve held interest rates steady at 3.5‑3.75% and three governors dissented, adding a hawkish tone that weighed on risk assets.
- Bitcoin fell below $76,000 as markets reacted to the Fed’s stance and broader geopolitical tensions.
- Dogecoin futures open interest climbed to $15.36 billion, signaling fresh leverage as the memecoin’s price surged.
Why it matters: Banks and borrowers lose certainty as the Fed’s 3.5‑3.75% rate hold persists while Powell stays amid legal threats, pushing risk premiums higher and tightening credit.
