Interest rates expected to hold steady at Fed meeting likely to be Powell's last as chair
The Federal Reserve has decided to keep interest rates steady amid ongoing economic uncertainty, likely marking Chair Jerome Powell's final meeting in this role. Inflation remains elevated, partly due to rising global energy prices linked to the conflict in the Middle East. The Senate Banking Committee has advanced the nomination of Kevin Warsh to succeed Powell, although questions about Powell's ongoing investigation linger.
- ▪The Federal Reserve maintained interest rates for the third consecutive time.
- ▪Four Fed officials voted against the decision, the highest dissent since 1992.
- ▪Inflation has increased due to a surge in global energy prices amid the Iran conflict.
- ▪Powell will remain on the Fed's board as a governor after his term ends on May 15.
- ▪The Senate Banking Committee has advanced Kevin Warsh's nomination to succeed Powell.
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EconomyFed keeps interest rates steady as Iran war fuels inflationThe Senate Banking Committee voted to advance the nomination of Kevin Warsh, President Donald Trump's pick to succeed Chair Jerome Powell. Listen to this article with a free account00:0000:00Add NBC News to GoogleFederal Reserve keeps interest rates steady for third straight time03:19Get more newsLiveonShareAdd NBC News to GoogleApril 29, 2026, 5:00 AM EDT / Updated April 29, 2026, 3:14 PM EDTBy Steve Kopack, Christine Romans and Kayla SteinbergThe Federal Reserve kept interest rates steady Wednesday at what is likely to be Chair Jerome Powell’s last policy meeting as the leader of the world’s most influential central bank.Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive…
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