Powell says he is prepared to "temporarily stay on" after his term as Fed Chair ends.

On March 19th, the U.S. Federal Reserve concluded its two-day monetary policy meeting on the 18th, announcing that it will maintain the target range for the federal funds rate between 3.5% and 3.75%. Fed Chair Powell stated that from September to December last year, the Fed lowered the policy rate by 0.75 percentage points, bringing it back within a reasonable range of the estimated neutral interest rate. However, the impact of the evolving situation in the Middle East on the U.S. economy remains uncertain. In the short term, rising energy prices will push up overall inflation, but it is still too early to judge the breadth and duration of its potential economic impact. Powell also indicated that according to the median forecast of participants, the appropriate level for the federal funds rate will reach 3.4% by the end of this year and 3.1% by the end of next year, a forecast consistent with the December prediction. However, Powell noted that, as always, these individual projections are subject to uncertainty and do not represent the committee's plans or decisions. Monetary policy does not have a predetermined course, and the Fed will make decisions meeting by meeting. Powell's term as Fed Chair will end in May of this year. Powell stated that if his successor has not been confirmed by the end of his term as Fed Chair, he will continue to serve as "acting chair" until the successor is officially confirmed. Since taking office in January 2025, U.S. President Trump has repeatedly pressured the Fed to lower interest rates, criticizing Fed Chair Powell's actions as always "late and wrong," while Powell has repeatedly affirmed his firm commitment to maintaining the Fed's independence from political influence.