Federal Reserve Chair Jerome Powell holds a press conference after the Fed cuts interest rates by a quarter of a percentage point. Market expectations and comments from policymakers suggest no change to the benchmark rate. The focus is on future actions and potential replacements for Powell amid ongoing political pressures and scrutiny.

President Donald Trump hints at announcing a replacement for Powell during the Federal Reserve meeting. The Justice Department subpoenas Powell regarding the Fed’s renovation project, raising concerns about political influence on monetary policy. Uncertainty also surrounds efforts to unseat Fed Governor Lisa Cook and the expiration of Stephen Miran’s term.

The Federal Reserve faces political pressures to cut rates, despite economic data not warranting it. Powell is expected to address the Justice Department probe and Supreme Court’s ruling on Governor Cook. Media scrutiny is likely to continue, but the focus will ultimately return to interpreting the Fed’s policy stance on interest rates and future cuts.

Read more at CNBC: The Fed decides on interest rates Wednesday. Here’s what to expect