Fed leaves rates unchanged at Jerome Powell's final meeting as chairman

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Fed leaves rates unchanged at Jerome Powell's final meeting as chairman The U.S. Federal Reserve's next meeting in June is likely to be led by Kevin Warsh after he cleared a Senate Banking Committee vote on Wednesday. By Krisztian Sandor , Helene Braun | Edited by Stephen Alpher Apr 29, 2026, 5:58 p.m. Make preferred on Federal Reserve Chair Jerome Powell speaks during a press conference (Kevin Dietsch/Getty Images) What to know : The Federal Reserve left its benchmark fed funds rate range unchanged at 3.50%-3.75% for a fourth consecutive meeting as it weighs persistent inflation against slowing growth. Likely presiding over his final meeting, Chairman Jerome Powell is expected to use his post-meeting press conference to signal how inflation risks may affect the timing of potential rate cuts (or hikes) later this year. Kevin Warsh cleared a Senate Banking Committee vote earlier Wednesday, putting him on track to take over leadership at the Fed when Powell's term ends on May 15. As fully expected by markets, the U.S. Federal Reserve held its benchmark fed funds rate range steady at 3.50%-3.75% on Wednesday, marking the fourth straight meeting without a change as officials weigh persistent inflation risks against signs of slowing economic growth. Today's central bank meeting is likely to be the last to be presided over by Jerome Powell, whose term as chairman ends on May 15. His replacement, Kevin Warsh, passed a Senate Banking Committee vote earlier Wednesday, putting him on track to take over as Powell steps down. Attention will next turn to Powell’s post-meeting press conference as traders look for clues on the path forward for monetary policy. After pulling back sharply earlier this month amid hopes for a lasting peace between the U.S. and Iran, oil prices have rebounded to near their post-war highs, with WTI crude trading just shy of $105 per barrel. Higher energy costs naturally feed through to headline inflation numbers, but they can also slow economic activity. It puts the U.S. central bank in a difficult position: which of its mandates — prices or economic growth — should it prioritize? Bitcoin News Federal Reserve Federal Open Market Committee (FOMC) Breaking News More For You Robinhood, Coinbase lead crypto stock rout as Trump rejects Iran plan By Krisztian Sandor | Edited by Stephen Alpher 1 hour ago President Trump reportedly rejected Iran's offer to end the U.S. blockade and open the Strait of Hormuz, sending crude oil prices surging 6%. What to know : Bitcoin slipped under $76,000 Wednesday, pressured by surging oil prices. Robinhood and Coinbase led far larger declines in crypto-related stocks after the crypto slowdown helped HOOD to miss earnings forecasts Tuesday night. More catalysts are in store for later this afternoon, including the Fed meeting and tech earnings. Read full story Latest Crypto News U.K.'s Farage faces standards probe over $6.7 million gift from Tether billionaire Christopher Harborne 23 minutes ago Robinhood, Coinbase lead crypto stock rout as Trump rejects Iran plan 1 hour ago Bitcoin's widely tracked Coinbase Premium turns negative as realized losses spike to $6 billion 1 hour ago The Protocol: Mythos forces crypto industry to rethink security practices 2 hours ago Hyperliquid is preparing to take on Polymarket with a new way to trade real-world events 2 hours ago The AI-crypto disconnect: Why Pantera’s CEO thinks institutions are missing the boat on bitcoin 2 hours ago Top Stories Visa expands stablecoin settlement network as volume hits $7 billion run rate 2 hours ago Wall Street is launching the first ever prediction market ETFs for U.S. elections 3 hours ago There's a social media groundswell predicting bitcoin above $90,000. That might be a problem. 8 hours ago Institutional money is coming for bitcoin, but Adam Back says it moves slower than you think 14 hours ago First central bank to test bitcoin says asset is ‘too risky’ for reserves 5 hours ago Tether leads Belo's $14 million raise to expand stablecoin payments across Latin America 6 hours ago