The US Federal Reserve chair, Jerome Powell, is staying on the central bank’s rate-setting board after his term as chair ends in May, a contentious move that signals continued uncertainty at the Fed. Powell made the announcement after the Fed board left interest rates unchanged for the third time this year on Wednesday, despite Donald Trump’s continued demands for interest rate cuts. Before Wednesday, Powell initially said he will step down from the board when the White House’s investigations into renovations at the Fed are “well and truly over with transparency and finality”. Powell’s term as chair ends on 15 May while his term as Fed governor ends January 2028. While he is “encouraged” by the justice department dropping its investigation, Powell noted that there are “remaining steps in the process” that he is watching carefully.…