Meeting market expectations, the central bank’s Federal Open Market Committee voted to keep its key interest rate in a range between 3.5 per cent -3.75 per cent. It also eased its concerns about the labour market as compared with inflation. In confirming the Justice Department probe, an unusually candid Mr Powell attributed the threat to Mr Trump’s efforts to control monetary policy. At the same time, hiring is slow in the labour market amid a Trump administration crackdown on illegal immigration. Predictions markets are pointing to BlackRock bond chief Rick Rieder as the likely candidate to succeed Mr Powell.