Fed Meeting Today: Powell’s Final Act Puts Rate Cuts, Warsh and Fed Independence on the Line
The Federal Reserve is expected to hold interest rates steady Wednesday as Jerome Powell chairs what may be his final meeting. The Senate Banking Committee will vote the same day on Kevin Warsh, Donald Trump’s nominee to replace Powell. Powell’s term as chair ends May 15, but he could stay on the Fed’s board until 2028. Brent crude rose to $114.29 a barrel, fueling inflation concerns.