The Federal Reserve left interest rates unchanged, citing inflation and geopolitical uncertainty, defying Trump’s calls for reductions.
The U.S. Federal Reserve held interest rates steady on Wednesday, resisting President Donald Trump’s repeated calls for cuts. This decision marks the third consecutive pause in rate changes this year. [source]
Federal Reserve Chair Jerome Powell announced he will remain on the central bank’s rate-setting board after his term as chair ends in May, amid ongoing uncertainty at the Fed. [source]
Fed officials pointed to elevated inflation, slow job growth, and geopolitical uncertainty in the Middle East as reasons for maintaining the current interest rates. These factors influenced the decision to leave rates unchanged. [source]
The decision to hold rates steady comes as the central bank prepares for a leadership shake-up next month. Powell’s continued presence on the board signals a desire for stability during this transition. [source]
Fed officials cited elevated inflation, slow job growth, and uncertainty in the Middle East as reasons for holding rates.
Sources
- https://www.theguardian.com/us-news/live/2026/apr/29/king-charles-new-york-donald-trump-zohran-mamdani-iran-us-politics-live — Fed decision to hold interest rates steady
- https://www.theguardian.com/business/2026/apr/29/fed-jerome-powell-decision-hold-interest-rate — Powell’s decision to remain on the board and reasons for holding rates steady