In the April 29, 2026 press conference, Chair Powell highlighted the Federal Reserve's commitment to maximizing employment and maintaining stable prices as the U.S. economy shows solid expansion despite high inflation driven by increasing global energy prices. The FOMC decided to keep the policy rate unchanged at 3.5 to 3.75 percent, opting for caution due to significant uncertainties from Middle Eastern conflicts. Powell noted that while job growth remains subdued, consumer spending and business investment are resilient. Inflation, however, increased to 3.5%, exceeding the Fed's 2% target, primarily influenced by energy shocks and tariffs. Powell emphasized the importance of Fed independence amid legal challenges and political pressures, underscoring the necessity for monetary policy free from political influence. As his term nears its end, Powell indicated he would stay on as a Governor until key investigations were resolved, highlighting a collaborative approach to building consensus within the Federal Reserve.