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Fed, ECB Keep Rates; Powell’s Final Day, June Hike Looms

4/29/2026

37 7 Full Breakdown

Summary

Story summary

The Federal Reserve (Fed) and European Central Bank (ECB) are expected to keep policy rates unchanged at this week’s meetings.
May 15 marks Fed Chair Jerome Powell’s final day in office.
Futures give the 3.625% Fed mid-rate less than a 20% chance of a cut within a year.
Analysts warn a 50-basis-point catch-up hike could appear in June if rates stay steady and the Iran-related oil shock persists.

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Story summary

The Federal Reserve (Fed) and European Central Bank (ECB) are expected to keep policy rates unchanged at this week’s meetings.
May 15 marks Fed Chair Jerome Powell’s final day in office.
Futures give the 3.625% Fed mid-rate less than a 20% chance of a cut within a year.
Analysts warn a 50-basis-point catch-up hike could appear in June if rates stay steady and the Iran-related oil shock persists.