Jerome Powell's term as central bank chair ends in May. Sophie Park/Getty Images

Live Updated 2026-04-29T09:52:15.973Z

It's the fourth Fed day of the year — and it's set to be Jerome Powell's swan song.

The Federal Open Market Committee will announce its April interest rate decision at 2 p.m. ET. Powell's term ends on May 15, making this meeting his last, pending the confirmation of Kevin Warsh , Trump's nominee to be the next Fed chair. The meeting also comes amid a new development in the Department of Justice probe into the Fed's construction efforts on its DC buildings, a continued stalemate in the Strait of Hormuz, and ongoing inflation woes.

Business Insider will cover the news all day, including insights from economists, market analysts, and central bank leaders. Check back here for updates.

The end of an era (most likely)

After holding the post since 2018, Wednesday is set to be Powell's last meeting as central bank chair.…