The Federal Reserve concluded its two-day policy meeting on Wednesday, April 29, 2026, by holding its benchmark interest rate steady in the range of 4.25% to 4.50%, marking the third consecutive meeting without a change. The decision was widely expected by markets, as the central bank continues to assess inflation and economic growth amid geopolitical tensions.
Wall Street experienced a mixed session, with the Dow Jones Industrial Average closing slightly higher, while the S&P 500 and Nasdaq Composite ended lower. Surging oil prices, driven by ongoing tensions in the Middle East and supply concerns, weighed on investor sentiment. West Texas Intermediate crude rose above $85 per barrel during the session.
Fed Chair Jerome Powell, in his post-meeting press conference, reiterated that the central bank remains data-dependent and is not in a hurry to cut rates. He noted that inflation, while moderating, remains above the Fed's 2% target, and the labor market remains tight. Powell also acknowledged the uncertainty posed by rising energy costs.
Investors also focused on a busy week of corporate earnings, with major technology companies reporting after the bell. The mixed results from some key firms added to the market's choppiness. The Fed's next meeting is scheduled for June 9-10, 2026.
