Four key takeaways from Jerome Powell's final rate decision as Fed chair

The Federal Reserve has held US interest rates steady after what was expected to be Jerome Powell's final meeting as chair.

Hours after his successor Kevin Warsh won the backing of a key Senate committee to take up the role next month, Powell announced the Fed's rate would stay between 3.5% and 3.75%.

It followed continued pressure from US President Donald Trump on the Fed to lower interest rates, with the Trump having criticised Powell throughout his presidency.

Warsh is expected to face the same pressure from the president, but has vowed to uphold the central bank's independence when he takes over from Powell.

After the bank's latest decision on Wednesday, Powell gave a press conference covering topics from the US-Israel war with Iran to Trump's attacks on the Fed. Here are the four key takeaways from a significant day for the future of the US central bank.