A Historic Final Press Conference
Today, Wednesday, April 29, 2026, is shaping up to be one of the most consequential days in recent Federal Reserve history. Fed Chair Jerome Powell is holding what is widely expected to be his final FOMC press conference, scheduled for 2:30 p.m. ET, following the Federal Open Market Committee’s policy decision at 2 p.m. ET. For millions of Americans who follow economic news, markets, and monetary policy, knowing where to watch Fed Chair Jerome Powell’s speech is just as important as understanding what he’s likely to say. Every word he speaks today will be scrutinized across Wall Street, Main Street, and Washington alike.
The press conference is streaming live on the Federal Reserve’s official website at federalreserve.gov and on the Fed’s official YouTube channel. Major cable networks including CNBC, CNN, Fox Business, and PBS NewsHour are all carrying the event live beginning at 2:30 p.m. ET.
Drop everything — this is one press conference you don’t want to miss. Follow along live at 2:30 p.m. ET today.
Why This Press Conference Is Different From All the Others
Powell has faced reporters dozens of times since taking the helm of the Federal Reserve in 2018. But today’s session carries a weight that none of his previous appearances have matched. His term as Fed Chair officially expires on May 15, 2026, making today’s press conference almost certainly his last in that capacity. The political backdrop surrounding his departure has made this moment even more charged and historically significant.
What makes today especially unusual is that Powell’s exit from the chairmanship does not necessarily mean his exit from the Federal Reserve entirely. He holds a separate term as a member of the Fed’s Board of Governors that runs through January 2028. Whether he chooses to remain on the board after stepping down as chair is one of the biggest unresolved questions heading into this afternoon’s press conference — and it would be the first time a departing chair stayed on the board since 1948.
What to Expect From the Fed’s Rate Decision
Before Powell steps to the podium, the FOMC releases its policy statement at 2 p.m. ET. The outcome is already well-telegraphed by financial markets. The Federal Reserve is expected to hold interest rates steady at their current target range of 3.5% to 3.75%, marking a third consecutive pause in 2026 following similar holds at the January and March meetings.
The economy is presenting policymakers with a complicated picture. Inflation has climbed back up to around 3.3%, well above the Fed’s 2% target, while job growth has slowed and the labor market has begun to soften. The ongoing conflict in the Middle East has pushed energy prices sharply higher, with gas prices at the pump averaging around $4.23 nationally as of today. Supply disruptions tied to the Strait of Hormuz have made oil markets increasingly volatile, adding inflationary pressure that the Fed cannot easily ignore.
The Fed’s own language from its March policy statement described the economic situation as one of elevated uncertainty, noting that the implications of the Middle East conflict for the U.S. economy remain difficult to assess. Expect that cautious tone to carry over into today’s statement largely unchanged.
The Kevin Warsh Succession Drama
Overshadowing the rate decision is a leadership transition that has consumed Washington for months. President Trump’s nominee to succeed Powell as Fed Chair, former Federal Reserve Governor Kevin Warsh, cleared a major hurdle earlier today when the Senate Banking Committee voted 13 to 11 along party lines to advance his nomination to the full Senate.
The path to that vote was anything but smooth. For weeks, the nomination was effectively stalled by Senator Thom Tillis, a Republican from North Carolina, who said he would block Warsh until the Justice Department resolved a criminal investigation into Powell related to renovations at the Fed’s Washington headquarters. That investigation was closed on Friday, clearing the logjam. Tillis then announced he would support Warsh, and the Banking Committee vote proceeded this morning.
The full Senate confirmation vote is expected during the week of May 11, which would put Warsh in place in time for the Fed’s next scheduled policy meeting in mid-June. Economists widely anticipate a smooth transition, though questions linger about Warsh’s commitment to the Fed’s traditional independence from political pressure. In a recent survey of financial professionals, only about half expressed confidence that Warsh would conduct monetary policy independently from the White House.
Will Powell Stay on as Fed Governor?
One of the defining storylines of today’s press conference is whether Powell will offer any clarity on his post-May 15 plans. At his March press conference, Powell made clear he had no intention of leaving the Fed’s board until the Justice Department investigation was resolved with transparency and finality. Now that the probe is closed, that condition has been met — but Powell has stopped short of saying what he will do next.
“I will make that decision based on what I think is best for the institution and for the people we serve,” Powell said last month. He declined to say anything further on the matter at the time, leaving markets and observers to speculate.
Prediction markets currently give an 87% probability that Powell steps down from the board between May 15 and May 22. If he waits until August, he would remain for two additional FOMC meetings after his chairmanship ends. His governor term technically runs through January 2028, giving him the legal right to stay considerably longer if he chooses.
The White House has signaled it will not try to force Powell off the board once Warsh is confirmed. Press secretary Karoline Leavitt indicated this week that the president will be satisfied once Warsh takes over as chair, suggesting the administration is no longer looking to push Powell out entirely.
Where to Watch: Every Platform and Option
Viewers across the country have multiple easy ways to tune in today. The Federal Reserve streams all press conferences live on its official website and on its official YouTube channel at no cost. Major cable networks including CNBC, CNN, and Fox Business will carry the event live starting at 2:30 p.m. ET with real-time analysis from their economics teams. PBS NewsHour is also streaming the event live through its website and app.
For those who cannot catch the press conference live, full replays will be available on the Federal Reserve’s YouTube channel within hours of the event ending. All major financial news outlets will post full video coverage and highlight clips across their digital platforms throughout the afternoon and evening.
What Powell Is Expected to Say
Economists and market analysts have spent the past week outlining their expectations for what Powell will address beyond the rate hold itself. The consensus is that he will emphasize the elevated uncertainty surrounding the economic outlook, particularly as it relates to inflation driven by rising energy costs and the ongoing Middle East conflict. He is also expected to stress that the Fed intends to remain data-dependent and patient before making any future moves on rates.
In his most recent public remarks before today, Powell described the economy as growing at a solid pace and pushed back on fears of stagflation, the combination of weak growth and rising prices. However, he acknowledged that tariffs, the Iran war, and a slowing labor market are all factors policymakers are monitoring closely.
What today’s press conference adds to that picture is the question of institutional continuity. With a new chair on the way and a murky economic landscape ahead, Powell’s closing remarks as Fed Chair carry the weight of both a policy statement and a farewell address rolled into one.
A Legacy Under a Microscope
Powell took over the Federal Reserve in 2018 and has navigated some of the most turbulent economic conditions in modern American history — including the pandemic-era inflation surge, an aggressive rate-hiking cycle, and multiple rounds of rate cuts in 2024 and 2025. His handling of those challenges will be debated by economists for years.
Today’s press conference is the final chapter of that story — at least as far as his chairmanship is concerned. Whether he exits with a clear message about the Fed’s direction or leaves more questions unanswered, the moment itself is already historic. A transition of Fed leadership during a period of active conflict, stubborn inflation, and political tension over the central bank’s independence is not something that happens often.
Markets are watching. Investors are watching. The American public, whether they realize it or not, has a lot riding on what Jerome Powell says at 2:30 p.m. today.
Whether Powell rides off quietly into the sunset or drops a surprise announcement that reshapes the Fed’s near-term future, today’s press conference is must-watch television — share your reaction in the comments and let us know what you think Powell’s legacy will be.
