Powell's Final Fed Meeting: Warsh's Path Clear

0:00It's April 29th. You're listening to Global News today, AI-powered global coverage. Federal Reserve chair Jerome Powell just wrapped his final meeting in that top spot, keeping interest rates steady between 3.5 percent and 3.75 percent. This came right after Kevin Worsh got the green light from a key Senate committee to step in next month. Pressure's been mounting from President Trump to slash those rates, but Powell stuck to his guns. Meanwhile, the decision hangs on uncertainty from the U.S.-Israel conflict in Iran, which is jacking up energy prices and hitting folks at the gas pump and grocery store. March inflation jumped to 3.3 percent, the highest since May 2024, so the feds playing wait and see before any cuts, maybe not till next year if oil stays volatile. Powell's not banishing entirely. He's staying on as a fed governor through 2028, but only until a Trump administration probe into him. In the bank wraps up clean. He called out the legal hits as battering the fed's independence, way worse than just

1:02trash talk, and unprecedented in the bank's 100, 13-year history. Worsh's path looks smooth now, with the DOJ dropping the probe and a top Republican Senator clearing the way. Full Senate votes next, but with Republicans in control, it's basically a done deal, possibly in time for Powell's chair term and on May 15th. Powell even gave his successor props during the press. His worst gear is up for his June debut. The fed's future hinges on dodging political heat, while tackling inflation and war fall out eyes, wide open for. What's next in this economic beat?