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Fed Holds Rates; Powell’s Term Ends, Warsh Nominated

4/27/2026

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Summary

Story summary

Federal Reserve (Fed) will keep rate at 3.5%-3.75% on April 29, 2026, and Fed Chair Jerome Powell’s term ends May 15, 2026, making his news conference last.
President Donald Trump nominated Kevin Warsh as Powell’s successor; Sen. Thom Tillis backed Warsh on April 26, after DOJ closed its April 24 investigation.
Labor Dept reported 178,000 March jobs and CPI rose to 3.3% from 2.4%; economists note oil prices, new tariffs and Iran-related war keep inflation high.

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Story summary

Federal Reserve (Fed) will keep rate at 3.5%-3.75% on April 29, 2026, and Fed Chair Jerome Powell’s term ends May 15, 2026, making his news conference last.
President Donald Trump nominated Kevin Warsh as Powell’s successor; Sen. Thom Tillis backed Warsh on April 26, after DOJ closed its April 24 investigation.
Labor Dept reported 178,000 March jobs and CPI rose to 3.3% from 2.4%; economists note oil prices, new tariffs and Iran-related war keep inflation high.