Here's everything to expect when the Fed issues its latest interest rate decision Wednesday

this is likely jerome powell's last meeting as fed chair. the fomc is expected to hold rates steady wednesday — markets are pricing a 100% chance of no move. inflation is sticky at 3% on the fed's preferred core gauge, and crude is hovering around $100 a barrel. gas is averaging $4.18 a gallon nationally. the dual mandate is split: the labor market is stable but not distressed, while inflation has been above the 2% target for five years. former fed vice chair roger ferguson said the fed is "roughly at a stable labor market" but has "a lot more work to be done" on inflation. goldman's david mericle expects the statement to acknowledge better labor data and higher inflation but leave policy guidance unchanged, with only one dissent. attention turns to powell's press conference, though its signaling value is diminished. kevin warsh appears on track to take over when powell's term ends in may. powell has the option to stay on as governor for two more years but hasn't said what he'll do. he previously said he wouldn't leave until a probe into fed headquarters renovations is "well and truly over" — the investigation has moved from the justice department to the fed's inspector general, but it's unclear if that clears the bar.