Divided Fed Officials Hold Rates; Powell to Stay as Governor

Bloomberg’s Tom Keene and Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve’s latest policy decision on a special edition of Bloomberg Surveillance.Federal Reserve officials left interest rates unchanged, but revealed a deepening division over the outlook for policy amid increased uncertainty caused by the conflict in the Middle East.
Four officials voted against the decision, including three who objected to language in their post-meeting statement that suggested the central bank would eventually resume cutting rates.
In what will be his last press conference as Fed chair, Jerome Powell said he intends to remain at the central bank as a member of its Board of Governors. He said Justice Department officials had assured him over the weekend they wouldn’t restart a controversial criminal investigation into the central bank unless the Fed’s internal watchdog recommended that.
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