Fed Decision Looms as Powell Era Nears Its End
The Federal Reserve is entering a defining moment.
The Fed has kept interest rates unchanged at 3.50%–3.75%, signaling that policymakers are still not ready to declare victory over inflation. The official FOMC statement said the Committee remains focused on maximum employment while returning inflation to its 2% target. 
But this decision carries extra weight because Jerome Powell’s term as Fed Chair ends on May 15, 2026. Powell has said he plans to remain on the Fed’s Board as a governor even after leaving the chair role, keeping his influence inside the institution during a politically sensitive transition. 
For markets, this is bigger than one rate decision. It is about the next phase of U.S. monetary policy: inflation control, rate-cut timing, Fed independence, and how risk assets react when a new leadership era begins.
Crypto, stocks, bonds, and the dollar are all watching the same signal.
The Powell era may be ending, but the Fed’s next move could define the next market cycle.