Powell left some advice to the next Fed chair. "Don't get pulled into elected politics," Powell said. "Don't do it."

The US Federal Reserve has voted to hold interest rates as its chair, Jerome Powell, defended the importance of central bank independence. The Fed said it will keep its key lending rate between 3.5% to 3.75%, stating that economic activity in the US "has been expanding at a solid pace".

By Andrea Shalal and Susan Heavey WASHINGTON, Jan 28 (Reuters) - Treasury Secretary Scott Bessent on Wednesday said he had spoken at length with President Donald Trump about the nomination of a successor for Federal Reserve Chairman Jerome Powell,

Jerome Powell advises his successor to stay out of politics and work with Congress as the Fed chair discusses his future at the central bank during a Wednesday press conference.

U.S. Treasury yields rose on Thursday as investors weighted the state of the economy after the U.S. Federal Reserve held interest rates steady.

By Howard Schneider WASHINGTON, Jan 28 (Reuters) - The U.S. Federal Reserve held interest rates steady on Wednesday, citing still-elevated inflation alongside solid economic growth, and giving little indication in its latest policy statement of when borrowing costs might fall again.

The Fed chair has been asked four times whether he’ll stay on the board after his term as chair is up. His silence is the strategy.

The Federal Reserve is expected to keep its key interest rate at the target range of 3.5% to 3.75%, but traders are looking for hints on next steps for policy.