The Federal Reserve announced Wednesday it will hold interest rates steady, pausing its recent run of cuts. Chair Jerome Powell said the U.S. economy remains in good shape despite ongoing geopolitical tensions and tariffs.
The move keeps the benchmark rate unchanged as markets weigh economic signals and Powell’s leadership at the central bank.
The Fed has not yet responded to grand jury subpoenas tied to a criminal investigation of Chair Jerome Powell, sources told CNBC. Powell confirmed on Jan. 11 that he is under criminal investigation, saying the Department of Justice had recently served the Fed with subpoenas “threatening a criminal indictment related to my testimony before the Senate Banking Committee last June,” concerning the central bank’s $2.5 billion headquarters renovation.
