In this video: Jerome Powell will be missed in the future. Many look at him now and blame him for things in the markets, but over the last few years he did a good job. The world we are heading into is a lot more uncertain where people may start to lose faith in the institution itself. Video by Benjamin Cowen.
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Insights
Jerome Powell presided over his final Federal Open Market Committee (FOMC) meeting as Chair on April 28–29, 2026. His four-year term as Chair officially concludes on May 15, 2026.
Key Takeaways from the Final Meeting
Interest Rates Held: The Committee voted 8–4 to maintain the federal funds rate at 3.50% to 3.75%.High Dissent: The meeting saw four dissents—the most in 34 years—reflecting growing internal division over the "wait-and-see" approach.
Economic Outlook: Powell cited "misbehaving" inflation and geopolitical uncertainty in the Middle East as reasons for the continued pause.
Independence Warning: In his final press conference, Powell warned that the Fed's institutional independence is "at risk" due to increasing political pressure.
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