Fed Leaves Interest Rates Unchanged at Powell’s Final Meeting as Chair

After eight years at the helm of the Federal Reserve, a change of guard is set for May.

Federal Reserve Chair Jerome Powell speaks during a press conference following the Federal Open Markets Committee meeting at the Federal Reserve in Washington on April 29, 2026. Anna Moneymaker/Getty Images

The Federal Reserve left interest rates unchanged for the third straight policy meeting on April 29, with the meeting marking the end of Fed Chair Jerome Powell’s tenure as central bank chief.

Officials voted 8–4 to keep the benchmark federal funds rate in the current target range of 3.5 percent to 3.75 percent.