Fed Holds Rates, Powell Stays as Governor After Chair Term Ends
The Federal Reserve held interest rates steady in what was Jerome Powell's final meeting as Chair, with the decision passing on a notable 8-4 split vote — a level of internal dissent that signals real disagreement about the path ahead. Rather than exit the institution entirely when his chairmanship concludes in May, Powell announced he will remain at the Fed as a member of its Board of Governors. Powell also flagged concern about potential economic fallout from the Iran conflict as a factor weighing on the outlook.
The 8-4 dissent vote is the most important number here — it tells you the Fed is not a unified body right now, which makes future rate moves harder to predict and increases policy risk for rate-sensitive assets like bonds, utilities, and growth stocks. Powell's decision to stay as a Governor is unusual and could mean he retains influence over policy even without the Chair title, complicating whoever takes the top job next. Geopolitical risk layered on top of an already divided Fed adds to the uncertainty premium markets are pricing in.
May 2025: Powell's term as Fed Chair officially ends and a new Chair is expected to be nominated or confirmed. Next FOMC meeting: mid-June 2025, where the new leadership dynamic will be watched closely. Ongoing: any escalation in the Iran conflict that could affect oil prices and inflation expectations.
- US Federal Reserve: Powell to remain ordinary Fed governor · Süddeutsche Wirtschaft
- Four key takeaways from Jerome Powell's last rate decision as Fed chair · BBC Business
- Bitcoin slips to $75,000 as Fed holds rates, dissenters chill Warsh 'pivot party' · The Block
- Wall Street: US markets close mixed as Brent crude hits new 52-week high · Handelsblatt
- When Will Jerome Powell Leave the Fed? · Bloomberg
- Federal Reserve holds rates unchanged – Powell remains regular member · Handelsblatt
- Jay Powell vows to remain on Fed board as he warns over Trump's attacks · Financial Times
- Bitcoin recovery stalls after Fed holds interest rates, citing 'uncertainty' in Middle East · Cointelegraph
- Gold Steadies After Fed Holds Rates and Signals Inflation Risks · Bloomberg
- Bloomberg Surveillance: The Fed Decides 4/29/2026 · Bloomberg
- Powell decides to stay on Fed board, igniting new Trump insult · The Straits Times Business
- Dollar holds firm after Fed raises inflation alarm, yen slips past 160 · Investing.com
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