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Here's everything to expect when the Fed issues its latest interest ...
US Federal Reserve Chair Jerome Powell arrives for a press conference following the Federal Open Market Committee meeting at the Federal Reserve Board Building in Washington, DC, on March 18, 2026. Brendan Smialowski | Afp | Getty ImagesIn what could be Jerome Powell's final meeting as Federal Reserve chair, he is expected to lead his fellow policymakers toward another cautious pause, with stubborn inflation and a resilient labor market leaving little room yet for interest rate cuts.The decision Wednesday will come against a backdrop of elevated energy prices and a central bank that has been above its 2% inflation target for five years at the same time that the labor market has been weak but not in distress. That's not a recipe for easing, at least not yet."On the dual mandate, they'd say we're roughly at a stable labor market," Roger Ferguson, an economist and former vice chair at the Fed, told CNBC. "On the inflation side of the mandate, [there's] a lot more work to be done with a sticky 3% [inflation rate], and I hope they argue, 'we're going to sit tight for a little while to see how this all plays out.'"Similarly, Goldman Sachs economist David Mericle expects the post-meeting statement "is likely to acknowledge the better labor market news and higher inflation numbers but to leave the standing policy guidance unchanged. We expect a strong consensus to stay on hold for now, with only one dissent, as in March."So with little drama over the rate decision — markets are pricing in a 100% chance of the FOMC staying on hold — attention will turn squarely to Powell.Unless something unexpected pops up, the chair's designated successor, Kevin Warsh, appears on track to take over when Powell's term ends in May. The Senate Banking Committee on Wednesday voted along party lines to support Warsh's nomination, sending the pick to the full floor for a vote. The transition clouds the usual signaling value of Powell's post-meeting news conference. Inflation the keyPowell's post-meeting news conference, normally a closely watched event for markets, could be viewed as less of a guide to future policy steps than it is a valedictory for a central bank leader who has had one of the most contentious relationships with a president in the institution's history."If Powell were staying, I might be trying to read more in between the lines of what he says at the press conference," said Jerry Tempelman, a former senior analyst at the New York Fed and now vice president of economic ...
Will the Fed cut interest rates? Here's what to expect at Wednesday's ...
By April 28, 2026 / 6:00 AM EDT / CBS News Add CBS News on Google The Federal Reserve will announce its third rate decision of 2026 on Wednesday, as officials confront rising inflation, a lackluster job market and what is likely to be Jerome Powell's final meeting as chair.The overwhelming consensus among economists is that the Federal Open Market Committee, or FOMC, will hold rates steady. On Tuesday, the CME Group's FedWatch tool showed a 100% probability that the Fed will keep its target rate within its current range of 3.5% to 3.75%. That would mark a third consecutive pause for the Fed this year, with the central bank holding rates unchanged at both its January and March meetings as it assessed the economic impact of President Trump's tariffs and the fallout of the Iran war. The conflict has caused energy prices to skyrocket and pushed inflation to its highest level in almost two years."The FOMC is likely to reiterate its wait-and-see message at its April meeting this week because the war with Iran continues to cloud the economic outlook and to present risks to both inflation and activity," Goldman Sachs economists wrote in an April 26 research note.Powell, meanwhile, is set to step down as Fed chair when his term concludes on May 15, capping an eight-year tenure as the leader of the central bank. He's expected to be replaced by Kevin Warsh, whose confirmation hearing before the Senate Banking Committee was held last week. Warsh's path to succeed Powell has been smoothed by U.S. Attorney Jeanine Pirro's announcement Friday that her office is ending a probe of Powell over the renovation of the Fed's Washington, D.C., headquarters. Powell had criticized the investigation as politically motivated, following President Trump's pressure on him to cut rates.Sen. Thom Tillis, a Republican from North Carolina, initially said he would block Warsh's nomination until the Justice Department resolved its investigation into Powell over the renovation of the Fed's Washington, D.C., headquarters. On Sunday, Tillis said he is prepared to move forward with Warsh's nomination, now that the probe has ended. "We expect Kevin Warsh to be confirmed in time for the June Federal Open Market Committee meeting," said EY-Parthenon chief economist Gregory Daco in an April 27 email.Here's what to expect at the upcoming Federal Reserve meeting.What time is the Fed rate decision?The Federal Open Market Committee, the 12-member voting body that sets rates, will announce its decisi...
Live updates: Fed rate decision looms. Is it Powell's last meeting?
The Federal Reserve is expected to leave its benchmark interest rate unchanged at a range of 3.5% to 3.75% on April 29, but attention will be on what may be Jerome Powell's last news conference ...
Federal Reserve - Financial Times
The latest news from the Federal Reserve. Extensive coverage and analysis of the Fed's monetary policy decisions and reports, including updates on US interest rates.
