US Federal ReserveMěi Lián Chǔ美联储to maintain / to holdwéichí维持interest ratelìlǜ利率unchangedbù biàn不变，Powell (Jerome Powell)Bào Wēi'ěr鲍威尔to chair / to preside overzhǔchí主持the last time / finalzuìhòu yīcì最后一次rate-setting meeting (FOMC meeting)yì xī huìyì议息会议。
May 7, 2026 at 11:00 AM
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BusinessFed Holds Rates Steady in Powell's Final Meeting as Chair
The Federal Reserve held its benchmark interest rate steady at 3.5 to 3.75 percent on April 29 in an 8-4 vote, the most dissents since 1992, in what was Chair Jerome Powell's final meeting before his term expires on May 15.
The Federal Reserve held its rate-setting meeting on April 29th. The Federal Open Market Committee voted 8 to 4 to maintain the benchmark interest rate in the range of 3.5% to 3.75%, leaving it unchanged.
The four dissenting votes represent the most opposition since October 1992. This was also the final rate-setting meeting chaired by Federal Reserve Chairman Jerome Powell, whose term expires on May 15th.
Powell announced that after stepping down from the chairmanship, he will continue to serve as a Federal Reserve governor. He stated that he will not leave the Federal Reserve Board of Governors until legal challenges filed against him by Trump are completely resolved.
The nomination of Powell's successor to become the new Federal Reserve chairman has already been approved by the Senate Banking Committee.
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