Fed stays as hold as expected as Kevin Warsh moves closer to confirmation
By Krisztian Sandor
Published on April 29, 2026.
The US Federal Reserve has maintained its benchmark fed funds rate at 3.50-3.75% despite persistent inflation risks and signs of slowing economic growth. Four dissenting Fed members, including Fed Governor Stephen Mirran and Beth Hammack, Neel Kashkari, and Lorie Logan, voted for the steady rate. This is likely to be the last time the Fed has presided over by Jerome Powell, whose term as chairman ends on May 15. The news led to a surge in oil prices, which can increase inflation but also slow economic activity.
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