Fed Set to Hold Rates at Powell's Likely Last Meeting

The Federal Reserve is expected to keep interest rates unchanged at its Wednesday meeting, with no cut or hike anticipated. The meeting is also likely the last rate-setting session chaired by Jerome Powell before his term ends. Powell has led the Fed through one of the most turbulent monetary policy cycles in recent memory, including aggressive rate hikes to fight post-pandemic inflation and subsequent cuts as price pressures eased. Holding rates steady signals the Fed sees no urgent reason to move in either direction right now. The succession question matters because the next Fed chair will inherit the current rate environment and set the tone for how the central bank responds to inflation, employment shifts, and any financial stress. Who leads the Fed shapes how markets price borrowing costs across mortgages, business loans, and consumer credit. Watch for any signals in the post-meeting statement about the rate path ahead and any official commentary on the leadership transition.