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Fed Chair Jerome Powell Says DOJ Investigation Will Not Force Early Exit

At the March 19 press conference, Jerome Powell said a Department of Justice (U.S. federal law enforcement agency) probe would not lead him to leave the Federal Reserve Board before it concludes, while the Fed kept rates at 3.5%-3.75%.

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Terms & Concepts
  • Federal Reserve Board: The governing body of the U.S. central bank, responsible for monetary policy and oversight of the financial system.
  • Interest rates: The borrowing cost set or influenced by a central bank, which affects lending, inflation, and broader market conditions.
  • Department of Justice: The main U.S. federal law enforcement agency, which handles criminal and civil investigations.