Powell to deliver what is likely his final US rates decision as Fed chairman

The US Federal Reserve will soon issue its latest decision on interest rates.

With energy prices spiked by the war in Iran, the bank is widely expected to hold interest rates steady. But today’s events will be watched closely as the potential confirmation of a new central bank head looms.

Interest rates have been a source of repeated strife between the Federal Reserve’s current chairman, Jerome Powell, and US President Donald Trump – who has repeatedly demanded they be cut.

This friction has also sparked some concerns about the president’s attempts to erode the independence of the central bank.

Just days ago, the US Justice Department dropped a criminal investigation into Powell which had been condemned as politically-motivated by figures ranging from a federal judge to a senior Republican senator.

All eyes are now on Powell, who will hold a press conference shortly after the rates decision is announced. We’ll bring you all of this as it happens.