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Wed, 29 Apr 2026

Wed, 29 Apr 2026 Four key takeaways from Jerome Powell's final rate decision as Fed chair

Powell's news conference after holding rates covered the US-Israel war with Iran, inflation, legal attacks, and the Fed's independence.

* The Fed kept interest rates steady between 3.5% and 3.75%, despite continued pressure from President Trump to lower them.
* The central bank has adopted a "wait and see" approach to economic uncertainty sparked by the Iran conflict, which is driving up energy costs and inflation.
* Hopes of imminent rate cuts were dashed after March's inflation figure rose to 3.3%, but the Fed's statement suggested it would cut rates when it next meets.
* The decision was seen as a blow to President Trump, who has been critical of Powell throughout his presidency and is expected to face similar pressure from his successor, Kevin Warsh.