Powell Stays, Fed Resists Pressure, Rates Unchanged

0:00Fed chaired Jerome Powell just dropped a big update at his final press conference. His term ends May 15th, but he's sticking around as a Fed governor for a while. This came right after the Federal Open Market Committee decided to hold interest rate steady between 3.50 and 3.75 percent. Trump's team has been pushing hard on the Fed, calling for rate cuts and launching investigations into board members like Powell himself. They tried to house one governor over mortgage issues, but courts blocked it. Powell says he'll stay until his own probe wraps up with full transparency. Markets see this as a pushback against efforts to sway the central bank. The vote had four dissents. The most since October 1992, signaling real divides inside the Fed. One Trump appointee pushed for a quarter-point cut, while three regional presidents objected to hinting at easier policy ahead. By ramps up tension as Kevin Warsh heads into confirmation for the chair spot, Powell's move blocks a quick overhaul, keeping some independence amid rising inflation from tariffs

1:03and other pressures. Expect more drama as midterms loom and rates they put. I'm Corey with the story and you've been listening to Derm News today, AI-powered local news.