Economy

Yellen’s last act: Fed holds target rate steady

By Joseph Lawler
Published January 31, 2018 7:00pm ET
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Yellen’s last act: Fed holds target rate steady
During Federal Reserve Chairwoman Janet Yellen's tenure, which began in 2014, the Fed's target short-term interest rate has risen from near zero to between 1.25 percent and 1.5 percent. Yellen, the first woman to lead the world's most influential central bank, will step down when her term expires on Feb. 3. (AP Photo/Pablo Martinez Monsivais, File) | Pablo Martinez Monsivais

Federal Reserve officials announced Wednesday that they had unanimously decided to hold their interest rate target steady, bringing an end to the Janet Yellen era.

Trump appointee Jerome Powell, currently a member of the Fed’s board of governors, will move to the head of the table to become chairman of the central bank after Yellen leaves this weekend.

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Tag:

Federal Reserve Interest Rates Janet Yellen Jerome Powell Joseph Lawler Monetary Policy