Federal Reserve Kicks Off FOMC Meeting, Markets Anticipate Rates Remaining at 3.5-3.75, Spotlight on Jerome Powell’s Press Conference Amid Inflation and US-Iran Tensions
The outcome from the Federal Open Market Committee (FOMC) will be revealed later tonight (April 29), with the policy statement due at 2 PM ET.
This will be succeeded by a press conference from Fed Chair Jerome Powell at 12 AM IST (April 30), a significant moment for investors seeking future direction.
Market sentiment is heavily leaning towards a pause. The Fed is largely expected to maintain its benchmark interest rate within the 3.5%–3.75% range, continuing a suspension that has remained in effect through 2026 thus far.
After a series of rate cuts in 2024 and 2025, the central bank has opted not to implement any changes this year, focusing instead on assessing the evolving macroeconomic landscape.
This includes persistent inflation, robust consumer spending, and a resilient labor market in the US, all further complicated by new risks arising from the ongoing US-Iran conflict, which has led to an increase in crude oil prices.
Market indicators suggest a strong consensus for a hold, with Fed funds futures showing no imminent policy shift and pushing expectations for any rate adjustments further down the line.
