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Today’s Lead Story
Monday, May 4

Economy

Fed Keeps Rates on Hold as Four Members Dissent — Powell's Final Meeting as Chair

via Federal Reserve

The Fed held its benchmark rate at 3.5%–3.75% on April 29 for the third straight time in 2026. The 8-4 vote was the most divided FOMC decision since 1992, and it marked Jerome Powell's final meeting as chair before he steps aside in mid-May.

Why it matters

Borrowing costs on credit cards, auto loans, and home equity lines will not ease until the Fed eventually cuts, making high-interest debt payoff a near-term priority.

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