Fed Holds Rates, Powell's Future Uncertain

The Federal Reserve maintained its interest rate at 3.5-3.75%, marking the third consecutive hold. The decision came after an unprecedented split vote, with four dissenters. Chair Jerome Powell may have led his final meeting, as the committee held pat despite calls for a rate cut. Markets anticipated no changes, and officials now project one cut this year and another in 2027, aiming for a neutral rate around 3.1%. The job market remains robust, with March adding 178,000 nonfarm payrolls and unemployment dropping to 4.3%. The Senate Banking Committee advanced President Trumps pick, Kevin Warsh, for the next Fed chair, setting the stage for a potential leadership change. Powell considers staying as a governor or stepping down amid White House pressure and investigations into Fed independence. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/4be7e8825f663359