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Story summary
- Fed Chair Jerome Powell cut rates 50 basis points in September 2024, a move critics call motivated and tied to later oil-price strain.
- At the end of his term, Powell will chair his FOMC meeting—analysts note will define a legacy centered on defending Fed independence against President Donald Trump.
- He expanded the Fed’s balance sheet to nearly $9 trillion and cut rates to near zero, actions credited with a rebound.
