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The oil shock and elevated inflation were top worries for investors in the bond market Wednesday, as Federal Reserve Chair Jerome Powell concluded his final press conference at the helm of the U.S. central bank.
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"I will continue to serve as a governor for a period of time to be determined," the outgoing Federal Reserve chair said Wednesday.
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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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Jerome H. Powell cited lingering legal threats against him and the Federal Reserve in explaining his decision to remain at the central bank.
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S&P 500 is little changed as oil rises, traders brace for Fed decision and Big Tech earnings: Live updates CNBC‘All-In Wednesday' to Test Stock Market Where ‘Everyone's Long' Bloomberg.comFed Meeting Live: Markets Await Powell's Last Interest-Rate Decision as Chair WSJStock Market Today: Dow falls over 300 points, S&P 500 edges lower, while Nasdaq wavers ahead of Fed decision and tech earnings MarketWatch
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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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US stocks fall as oil prices keep spurting higher AP NewsStock Market Today: Dow off 325 points, S&P 500 and Nasdaq lower after Fed holds rates steady; oil and bond yields up as tech earnings loom MarketWatchStock market today: Dow, S&P 500, Nasdaq drop as chip stocks sink on OpenAI report, oil rises Yahoo Finance
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Fed Meeting Live Updates: Warsh Nomination for Fed Chair Advances Ahead of Powell's Presser The New York TimesFed meeting live updates: Potential drama ahead if Powell hints he will hang around CNBCPowell poised to keep rates unchanged in what could be his last meeting; Warsh advances KATUThe F
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The Federal Reserve voted to hold interest rates steady, at what's likely Jerome Powell's last meeting as Fed chair. Kevin Warsh looks set to replace Powell next month.
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This year is shaping up to be a milestone moment for state income taxes after last year's massive changes to federal income taxes.
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