Powell stays on Fed board after chair term ends

Federal Reserve Chair Jerome Powell said he will remain as a governor on the central bank's board after his term as chair ends on May 15. The decision means Powell will continue to shape U.S. monetary policy, even as President-elect Donald Trump prepares to take office. By staying on the board, Powell keeps a vote on interest rate decisions and other key policy moves. The Fed recently held interest rates steady, signaling caution on inflation and economic growth. Powell's extended role provides continuity at a time of uncertainty in global markets.