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Fed Holds Rates, Warsh Nomination Advances Amid Low Inflation

4/29/2026

Summary

Story summary

The Federal Reserve (Fed) left its funds rate at 3.5%-3.75% on Wednesday.
The Federal Open Market Committee voted 8-4, with four members dissenting.
Inflation rose to 3.3% while unemployment fell to 4.3% and payrolls added 178,000 jobs.
The Senate Banking Committee advanced President Donald Trump’s nominee Kevin Warsh to Fed chair, with the full Senate expected to confirm him, marking first leadership change since Jerome Powell became chair in 2018.

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Story summary

The Federal Reserve (Fed) left its funds rate at 3.5%-3.75% on Wednesday.
The Federal Open Market Committee voted 8-4, with four members dissenting.
Inflation rose to 3.3% while unemployment fell to 4.3% and payrolls added 178,000 jobs.
The Senate Banking Committee advanced President Donald Trump’s nominee Kevin Warsh to Fed chair, with the full Senate expected to confirm him, marking first leadership change since Jerome Powell became chair in 2018.