Federal Reserve keeps rates unchanged as Powell nears exit
By Iain Gilbert
Date: Wednesday 29 Apr 2026
(Sharecast News) - The Federal Reserve left interest rates unchanged on Wednesday, holding its benchmark federal funds rate at 3.5-3.75% in a meeting that could potentially be Jerome Powell's last as chair.
While the decision was widely expected, with markets fully pricing in no change, the vote proved unusually divided, with the Federal Open Market Committee split 8-4 as policymakers differed over how to communicate the outlook for future policy moves. It was the largest number of dissents since 1992.
Governor Stephen Miran dissented in favour of a 0.25% rate cut, while The other three "no" votes came from Beth Hammack of Cleveland, Neel Kashkari of Minneapolis and Lorie Logan of Dallas. The trio stated that while they agreed with the hold, they "did not support the inclusion of an easing bias in the statement at this time".
Central bank officials continued to flag persistent inflation pressures as a key challenge.
Speaking after the decision, Powell said he intended to remain on the Board of Governors for the time being, noting that he would stay until an investigation into the Federal Reserve's renovation projects was "well and truly over with transparency and finality".
Reporting by Iain Gilbert at Sharecast.com
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