Fed likely to leave rates unchanged at what may be Powell's last meeting, as Warsh to advance
By Christopher Rugaber
Published on April 29, 2026.
The future of the Federal Reserve is uncertain as Chair Jerome Powell may decide to stay with the Fed, even after his term as chair ends May 15. The Senate Banking Committee is set to vote on the nomination of Kevin Warsh to succeed Powell. If Powell stays on the Fed's board of governors, he would be the first since 1948. This could create divisions among policymakers and potentially exacerbate tensions with the Trump administration. The Fed is expected to keep its key rate unchanged at 3.6%, which can cool inflation but not necessarily increase hiring or unemployment. The economy remains murky, with inflation at a two-year high, making it harder for the central bank to reduce rates.
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