India, April 30 -- Jerome Powell used what is likely his final press conference as Federal Reserve chair Wednesday to send a direct message to President Donald Trump, and incoming nominee Kevin Warsh. The 73-year-old made his speech after the Fed left benchmark interest rates unchanged for a third straight meeting, keeping its short-term rate around 3.6% while signaling future cuts remain possible.

But Powell's most consequential announcement came when he revealed he will remain on the Federal Reserve Board of Governors after his chairmanship ends May 15.

"After my term as chair ends on May 15, I will continue to serve as a governor for a period of time to be determined. I plan to keep a low profile as a governor," Powell said. He will ...