At his final press conference, Federal Reserve Chair Jerome Powell called his time leading the central bank “a privilege.” Speaking after the Fed announced it would hold interest rates steady for a third consecutive meeting, Powell reflected briefly on the responsibilities of the role and thanked colleagues for their work.
The decision to pause rate changes followed ongoing assessments of inflation, labor markets and global risks. Powell emphasized the Fed’s focus on achieving price stability while supporting a healthy economy, noting that policymakers remain attentive to incoming data and potential upside and downside risks.
Separately, the Justice Department has ended a criminal probe related to Powell, removing a legal cloud that had drawn public attention in recent months. Markets and economists will now watch how Powell’s tenure and the Fed’s current policy stance influence economic conditions as new leadership and evolving data shape the central bank’s next steps.