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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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A key measure of inflation used by the Federal Reserve to set interest rates posted the biggest increase in March in almost three years, marking another major hurdle for a resilient but harried U.S. economy.
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Central banks await further evidence of persistent inflation stemming from Middle East war
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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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Ford Motor said it expected the federal government to refund $1.3 billion the company paid in tariffs that the Supreme Court later struck down.
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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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