US Federal Reserve Meeting 2026: Powell Signals Rate Stance Amid US-Iran Conflict, Wall Street Futures Uncertain

US Federal Reserve's April Monetary Policy Meeting Concludes Today

The US Federal Reserve's monetary policy meeting for the month of April, which began on 28 April, is set to conclude today. The Federal Open Market Committee (FOMC) will announce its decision on the rate trajectory later in the evening on 29 April. Traders expect the central bank to leave rates unchanged, but will closely track Fed Chair Jerome Powell's remarks amid the ongoing US-Iran war.

This will likely be the final press conference for Powell as the head of the US central bank, whose term ends on 15 May ahead of the May policy meeting (17-18 May). Kevin Warsh has been nominated by US President Donald Trump to succeed Powell.

Expected Outcome of US Fed Meeting

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Analysts largely expect the US Federal Reserve to hold the rates in its April policy, with markets largely pricing in a prolonged higher-for-longer environment. With no fresh economic projections or dot plot to guide markets, attention will shift to Chair Powell's tone and the statement's language.

Current Federal Reserve Rate

As of April 2026, the Federal Reserve has maintained the federal funds rate target range at 3.5%–3.75%. This rate has been held steady for a third consecutive meeting following cuts in late 2025.

Impact of US-Iran War on Economy and Inflation

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The Fed has said it was monitoring risks tied to the conflict, and with tensions in the Middle East showing few signs of easing, investors are tracking the central bank's assessment of the same on the economy and inflation.

Scheduling of Fed Rate Decision and Press Conference

The Federal Reserve will announce its interest rate decision today, 29 April, at 2:00 PM ET. This announcement will be followed by a press conference with Fed Chair Jerome Powell at 2:30 PM ET.

For those looking to track the policy from India, the Fed rate decision will be out at 11:30 PM, and policy remarks are set to be delivered at 12:00 AM.