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Jerome H. Powell will remain a governor at the Federal Reserve after his term as chair ends, in a bid to guard against a further incursion by the Trump administration on the central bank's independence.
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Iran war: What's happening on day 62 as Trump asks Iran to ‘give up'? Al JazeeraTrump Tells Aides to Prepare for Extended Blockade of Iran WSJExclusive: Trump rejects Iran's offer, says blockade stays until nuclear deal AxiosWhite House meets with Chevron, oil traders amid Iran standoff Politico
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Traders now think the Federal Reserve will keep steady interest rates, or perhaps even increase them, amid succession intrigue at the central bank.
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Oil futures fall Thursday, reversing direction after reaching a four-year high on a report that President Donald Trump is considering escalating the war in Iran.
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U.S. Economy Grew 2 Percent in Early 2026 Even as War in Iran Began to Hit Energy Prices The New York TimesTrump's 'tortoise' economy: GDP grows even as Iran challenges loom PoliticoUS economic growth rebounds 2% as consumer spending slows amid Iran war The GuardianEconomy picked up in early 2026, but inflation jumped, too The Washington PostThe U.S. economy shows resilience despite the war with Iran NPR
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Trump, Iran are locked in high-stakes standoff as oil prices hit 4-year high The Washington PostOil Prices Hit a New Wartime High as Iran Standoff Shows No End in Sight The New York TimesLive Updates: Iran war pushes oil prices to 4-year high as Hegseth set to face fresh round of questioning CBS NewsLive updates: US gas jumps to highest price in 6 weeks, as Trump mulls extended blockade of Iranian ports CNN
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Powell to remain as Fed governor, denying Trump a key vacancy AxiosFed holds rates steady but with highest level of dissent since 1992 CNBC‘They left me no choice': Powell isn't going anywhere—blocking Trump from another Fed appointee FortuneThe Fed will have a new leader, but Powell isn't leaving and that puts Trump's low interest rates on ice The Boston Globe
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The Federal Reserve also on Wednesday left interest rates unchanged for its third straight meeting amid higher energy costs.
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