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BlockBeats News, March 19th, Federal Reserve Chairman Powell publicly responded for the first time to the impact of the Department of Justice's investigation on his tenure, stating that he has no intention of leaving the Board until the investigation is thoroughly completed, and may continue to serve as interim chairman until a successor is confirmed. Powell stated that the decision to complete the Board term until 2028 has not been made and will depend on the choice that is most beneficial for the institution and the public. Currently, the Department of Justice's investigation is still ongoing, and the relevant legal procedures are a key consideration for his continued tenure. Meanwhile, the Federal Reserve's latest interest rate meeting has maintained the rate in the range of 3.5% to 3.75% for the second consecutive time. Powell downplayed expectations of a short-term rate cut at the press conference, emphasizing that the current policy is close to a neutral level, and there is insufficient reason for a rate cut before the economy shows significant weakening.

A visual summary of the Federal Reserve's March interest rate decision: The interest rate remains unchanged, economic expectations and the dot plot show a "constructively dovish" stance, and the market generally expects that rate cuts will not happen until at least the second half of the year…

1. According to Yonhap News Agency, due to the prolonged blockade of the Strait of Hormuz causing an energy supply crisis, the South Korean government and refining companies are considering importing Russian crude oil and naphtha. Against the backdrop of the United States temporarily relaxing sanctions on Russian energy, the Ministry of Industry of South Korea is evaluating this option.2. The last time South Korea imported Russian oil was in April 2022; since then, South Korea has stopped importing Russian oil and joined the ranks of countries sanctioning Russia. About 70% of South Korea's imported oil must pass through the Strait of Hormuz, and the ongoing blockade is forcing Seoul to reassess its energy procurement strategy.3. This move marks a significant shift in South Korea's energy policy. If ultimately implemented, South Korea will join countries such as India in taking advantage of the U.S. sanctions exemption window to purchase crude oil from Russia to fill the supply gap from the Middle East.