At the April 29, 2026 press conference, Federal Reserve Chair Powell reiterated the Fed’s commitment to achieving maximum employment and stable prices as inflation remains elevated due to an increase in global energy prices. The FOMC decided to keep the policy rate unchanged, deeming it suitable for economic conditions. Powell noted that while consumer spending and business investment are growing, job gains have slowed, and housing activity remains weak. The inflation rate has risen to 3.5%, influenced by various global factors, including the conflict in the Middle East. Powell emphasized the importance of the Fed's independence in economic decision-making, amid concerns about legal attacks on the institution. As he prepares to pass leadership to Kevin Warsh, he will remain on the Board to ensure stability during this transition and maintain focus on economic goals. Powell affirmed the Fed is positioned to respond to upcoming data and risks.