Fed holds interest rates steady

(CNN)– The Federal Reserve held interest rates steady Weds, April 29, 2026.

The benchmark rate will remain between 3.5% and 3.75%.

Inflation is still running above the fed’s 2% target with higher oil costs and global tensions adding pressure.

At the same time, hiring has slowed though the unemployment rate remains strong.

During his final press conference as fed chair, Jerome Powell announced he will remain on the fed’s board as a governor until his term expires in 2028.