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Fed Holds Rates, Warsh Cleared; Inflation 3.2%, Unemployment 4.3%

4/29/2026

28 6 Full Breakdown

Summary

Story summary

Fed Chair Jerome Powell holds the policy rate at 3.50%-3.75% on Wednesday and gives his final news conference.
Senate Banking Committee clears Kevin Warsh, President Donald Trump’s Fed chair nominee, for a full Senate vote.
Traders see a 100% chance of the hold and expect no rate cuts through 2026.
Core PCE inflation rose to 3.2% in March, overall PCE to 3.5%, and unemployment fell to 4.3%.

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Story summary

Fed Chair Jerome Powell holds the policy rate at 3.50%-3.75% on Wednesday and gives his final news conference.
Senate Banking Committee clears Kevin Warsh, President Donald Trump’s Fed chair nominee, for a full Senate vote.
Traders see a 100% chance of the hold and expect no rate cuts through 2026.
Core PCE inflation rose to 3.2% in March, overall PCE to 3.5%, and unemployment fell to 4.3%.