Four key takeaways from Jerome Powell's last rate decision as Fed chair

the fed held rates steady between 3.5% and 3.75% at what's expected to be powell's last meeting as chair. his successor kevin warsh won senate committee backing hours earlier. powell's press conference covered the iran war, trump's attacks on the fed, and four key takeaways. march inflation hit 3.3%, the highest since may 2024, dashing hopes for imminent cuts. the iran conflict is pushing up energy costs, pump prices, and grocery bills. pantheon macroeconomics' samuel tombs said wednesday's oil price bounce could delay cuts until 2026. powell promised to stay as fed governor until the investigation into him is "well and truly over." he warned the trump administration's legal actions are "battering the institution" and are "unprecedented in our 113-year history." warsh's full senate vote is now a formality, with republicans in control.