Jerome Powell, the current chairman of the US Federal Reserve, confirmed his plans to remain on the Board of Governors after his chairmanship concludes on May 15. This decision allows him to continue serving until his term expires in 2028, denying President Donald Trump the opportunity to appoint a new member to the seven-member board. Powell cited ongoing legal challenges from the Trump administration as a reason for his decision, stating he will wait for investigations to conclude before determining his departure. He emphasized his intention to support incoming chair Kevin Warsh while avoiding any attempts to act as a 'shadow chair.' Meanwhile, the Federal Reserve has decided to maintain interest rates at 3.5%-3.75% for the third consecutive meeting, as it navigates the impacts of rising crude oil prices and geopolitical tensions in the Middle East, which have introduced significant economic uncertainty.