Powell said he is prepared to stay on as Federal Reserve Chairman on an interim basis after his term ends.

The Federal Reserve ended its two-day monetary policy meeting on the 18th and announced that it would keep the federal fund target rate unchanged at 3.5% to 3.75%. Federal Reserve Chairman Powell stated that from September to December last year, the Fed lowered the policy rate by 0.75 percentage points, bringing it back to a reasonable range within the estimated neutral rate. However, the impact of the evolving situation in the Middle East on the US economy remains uncertain. In the short term, rising energy prices will push up overall inflation levels, but it is still too early to judge the breadth and duration of its potential impact on the economy. Powell also stated that, according to median forecasts of participants, the appropriate level of the federal fund rate will reach 3.4% by the end of this year and 3.1% by the end of next year, consistent with forecasts from December last year. However, Powell noted that as always, these individual forecasts are uncertain and do not represent the committee's plans or decisions. Monetary policy is not predetermined on a fixed path, and the Fed will make decisions at each meeting. Powell's term as Chairman of the Fed will end in May of this year. Powell stated that if the successor has not been confirmed by the end of his term as Chairman of the Fed, he will continue to serve as "Acting Chairman" until the successor is officially confirmed.