Fed Meeting Today: Powell’s Final Act Puts Rate Cuts, Warsh and Fed Independence on the Line
The Federal Reserve looks set to hold rates steady on Wednesday, with Jerome Powell possibly facing his last policy meeting as chair. As the Fed’s inflation battle continues, the leadership transition is picking up speed: Kevin Warsh, tapped by President Donald Trump to succeed Powell, is heading for a Senate committee vote that’s also slated for Wednesday. This isn’t your standard rate call. Powell’s chairmanship wraps up May 15, though his spot on the Fed’s Board of Governors doesn’t expire until January 2028. That sets up an open question: does he bow out entirely or stick around as an internal counterweight?
