Here's what changed in the new Fed statement:
This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the ...
cnbc.com/2025/07/30/july-fed-meeting-heres-what-changed-in-the-new-statement.html
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Key FactsPowell plans to stay as Fed governor after chair term
Apr 29, 2026 · Reading time: ~45 sec.
Summary created with AI assistance · Source: cbsnews.com
Summary created with AI assistance · Source: cbsnews.com
- Powell said he plans to remain on the Fed’s board as a governor after May 15, which Capital Economics described as unprecedented since 1948.
- The FOMC pointed to developments in the Middle East and said elevated inflation was linked to the recent increase in global energy prices.
- Four FOMC members dissented from the statement: Stephen Miran supported a 0.25-percentage-point cut, while three others opposed wording suggesting possible easing.
- Kevin Warsh, Trump’s nominee to succeed Powell, will face a Fed under political and economic pressure, while many economists expect rate cuts only later in 2026 or in 2027.
The institution is battered — we have had to go to the courts.— Jerome Powell, describing the Fed's independence and the legal challenges it has faced.
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