Powell's Last Fed Rate Call: Stagflation Looms

0:00The Federal Reserve drops its latest interest rate call this Wednesday, April 29th, 2026, and it might be the last big move under. Chair Jerome Powell, gas prices just hit their highest in four years, thanks to the Iran war spiking costs everywhere. That war has inflation running hot while hiring stays slow, putting the Fed in a tough spot with growth cooling off. Pals are betting heavy on no change today, with investors locked in on steady rates. Powell's term wraps May 15th, but he's sticking around till President Trump's pick, Kevin Worsh, gets confirmed. Adjust his department probe into Powell, got dropped last week, clearing the path for Worsh's Senate push after a committee stall. The Fed has held Rates steady the last two meetings this year, after three-quarter-point cuts earlier. Worsh, a former Fed hawk from the Hoover Institution, favors tighter policy to tame prices, even as stack-flation risks loom. If Rates stay put as markets seen 80% shot through the year, it keeps the balancing act

1:04alive amid these economic headwinds. Local news, powered by AI. This is Durham News Today, I'm Corey with The Story.