Fed Holds Rates Steady, Powell Vows to Stay Amid DOJ Probe

Good morning. Fed holds rates steady as Powell signals he won’t step aside. Tehran warns Gulf assets are now legitimate targets. And Netflix is turning its top hit into a global concert tour. Listen to the day’s top stories.

Federal Reserve officials kept interest rates unchanged and maintained their forecast for one cut this year amid heightened uncertainty due to war in the Middle East. Chair Jerome Powell emphasized that further reductions would require progress in lowering inflation, especially in goods prices affected by tariffs. At a press conference, he said he intends to remain at the central bank until the Justice Department’s investigation is over.