Four key takeaways from Jerome Powell's last rate decision as Fed chair

The Federal Reserve has held US interest rates steady after Jerome Powell's last meeting as chair. Hours after his successor Kevin Warsh won backing from a key Senate committee, Powell announced rates would stay between 3.5% and 3.75%. This followed pressure from US President Donald Trump to lower rates, with Trump criticizing Powell throughout his presidency. Warsh is expected to face similar pressure but vows to uphold the Fed's independence.

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