The U.S. Federal Reserve kept interest rates unchanged for the third consecutive time this year, and the Senate Banking Committee approved the nomination of the new chair.

Local time on April 29, the U.S. Federal Reserve announced that it would keep the target range for the federal funds rate unchanged at 3.5% to 3.75%. This marked the third consecutive decision by the Fed to hold rates steady since 2026, in line with broad market expectations.

In its statement, the Fed said that recent economic indicators show that economic activity is steadily expanding, that new job creation remains generally low, and that the unemployment rate has changed very little over the past few months. It also said inflation remains stubbornly high, in part due to recent increases in global energy prices.

The Fed once again reiterated its commitment to maximum employment and a 2% inflation target, and when considering any further adjustments to its interest-rate policy, it will carefully assess new data, changes in the economic outlook, and the overall risk situation.

On the same day, while maintaining a stable monetary policy, the U.S. Senate Banking Committee approved votes to confirm the nomination of Kevin Wash for Fed chair and submitted it to the full Senate for a final vote.

Wash was nominated by U.S. President Trump on January 30, 2026, to succeed the current chair, Jerome Powell. The Senate Banking Committee’s vote was passed on a party-line basis, marking a key step forward in Wash’s confirmation process.

Analysts noted that although inflation pressures remain, the Fed still chose to keep rates unchanged this time to observe the performance of more economic data. This decision meets market expectations and also helps maintain relative stability in the financial environment.

Next, if Wash’s nomination is approved by the final vote of the Senate, it will bring a new leadership style to the Federal Reserve. As a former Fed governor, Wash has extensive experience in monetary policy, and the market closely watches his policy orientation.

Going forward, under the new chair’s leadership, the Fed will continue to address economic challenges such as inflation and employment growth, while balancing the impact of global geopolitical risks on the economic outlook.

#Federal Reserve Rate Decision