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US Fed Meeting 2026 LIVE: The US Federal Reserve's monetary policy meeting for the month of April, which started on 28 April, concluded today. The FOMC announced its decision on the rate trajectory later in the evening on 29 April, wherein it kept the rates unchanged along expected lines at 3.5-3.75%.

This was the third straight policy when the US Federal Reserve kept the rates unchanged. Meanwhile, the central bank cited higher inflation as the reason behind its action.

"Inflation is elevated, in part reflecting the recent increase in global energy prices," the central bank said.

However, the US Fed recorded four dissents this time — the highest since October 1992. Three officials no longer feel the central bank should communicate a bias towards lowering borrowing costs. Meanwhile, one batted for a 25 bps rate cut.

Track this space for LIVE updates on US Fed meeting.

Wall Street seesawed on Wednesday as investors weighed surging oil prices, the Federal Reserve’s interest rate decision, and a slate of major earnings due after the market close.

Fed kept its decision to keep rates unchanged while ongoing tensions in the Middle East added to concerns over rising energy prices.

According to preliminary data, the S&P 500 edged down 0.03% to 7,136.48, the Nasdaq Composite inched up 0.06% to 24,679.06, and the Dow Jones Industrial Average dropped 0.56% to 48,869.16.

The US Federal Reserve’s decision to hold rates at 3.50%–3.75% aligns with the RBI’s own pause at 5.25% earlier this April. Both central banks are trapped in a "wait-and-see" mode as the Iran conflict disrupts global supply chains.

The Energy Factor: With Brent crude surging toward $120/barrel, India faces high "imported inflation." The Fed’s cautiousness confirms that global energy prices are the primary threat to price stability, which may force the RBI to keep Indian repo rates higher for longer to protect the Rupee.

Market & FII Impact: For Indian investors, the Fed’s hold is a double-edged sword. While it prevents a massive sell-off, the lack of a rate cut means Foreign Institutional Investors (FPIs) might remain hesitant to move capital back into Indian equities until US yields soften.

The EMI Outlook: For Indian borrowers, this global trend suggests that home and auto loan EMIs are unlikely to drop in the near term. As long as the Fed remains hawkish due to energy risks, the RBI has little room to ease domestic borrowing costs without risking currency depreciation.

2026 Forecast: While the Fed still projects one cut this year, Indian markets are bracing for a prolonged "high-for-longer" cycle, with any local rate relief likely delayed until the tail end of 2026.

— Ajitabh Bharti, Executive Director and Co-founder, CapitalXB

Fed chair Jerome Powell said that economy has been resilient and has been remarkably resilient for some years now. It has powered through multiple shocks back-to-back, Powell said.

Powell said it was important to fight to maintain the independence of the institution and ensure that it does not go on.

Fed chairman Jerome Powell said that we are committed to bringing inflation down to 2% and sustainably; events keep happening that keep driving inflation back up. “What we can do is use our tools to guide inflation back to 2%,” Powell said in his address today.

Powell said that if gas prices go up, it hurts disposable income coming out of people's pockets and that is a hit on GDP.

Powell said it’s understandable that some Fed officials are concerned about cutting interest rates further, especially given recent inflation data. He said it was “easy to see why”, citing inflation as the major dividing factor.

Jerome Powell said that despite dissenting votes at the latest monetary policy meeting against holding onto an interest rate easing bias, he does not believe officials are leaning toward hiking interest rates.

In terms of the dissents, “people are not saying we need to hike now, it's more a question" of whether or not the Fed should have a neutral bias on the policy outlook.

Given that we are a big exporter of energy, the effects on the US (of a US-Iran war and oil price spike) are substantially less compared to Western Europe or Asia in the current situation.

We are in a good place to move in either direction, and therefore, no one is calling for a hike right now, said Powell.

Our policy stance is in a good place to wait and see as the labour market shows signs of stability. He added that inflation is misbehaving. But Powell believes that it needs to be seen how higher crude prices steep into inflation; and the Fed can "wait and see how things work out" before it reacts.

Jerome Powell said that he intends to stay at the central bank as a governor even after his chairman term ends, adding that he plans to "keep a low profile."

"After my term as chair ends on May 15, I will continue to serve as a governor for a period of time to be determined," Powell said. "I will leave when I think it's appropriate to do so."

Gold prices faced a steeper decline to a one-month low as the US Federal Reserve kept rates unchanged as expected and traders were concerned about inflation stemming from the war in the Middle East.

Spot gold was down 1.4% at $4,528.17 per ounce, its lowest level since late March. US gold futures settled 1% lower at $4,561.50.

The Dow Jones Industrial Average fell 0.75%, the S&P 500 lost 0.31% and the Nasdaq Composite lost 0.36%, extending their decline after the US Fed outcome.

Jerome Powell said he expects tariff inflation to recede in the next two quarters.

US Economy is expanding at solid pace, consumer spending has been resilient and housing sector has remained weak.

This is my last press conference as chair, says Jerome Powell as he congratulated Kevin Warsh on his role as new Fed chief. Powell says he will stay on Fed’s board after his term as chair ends for an 'undetermined period of time'.

Inflation has moved up recently and is elevated compared to our 2% long-run goal, says Powell.

US Fed's Jerome Powell is set to deliver his last speech as Fed chairman shortly. The Fed along expected lines have decided to hold the rates unchanged. Powell's comments will shed light on the inflation and growth trajectory amid the Middle East conflict, which has entered its third month now.Saloni Goel has over nine years of experience as a business journalist, with a strong track record of covering the financial markets. Over the course of her career, she has reported extensively on global and domestic equities, IPO market activity, commodities, and broader macroeconomic trends. Her reporting reflects a keen eye for detail, data-driven analysis, and the ability to spot emerging themes early.

At Mint, Saloni has been part of the markets team for nearly two years, where she currently works as Chief Content Producer. In this role, she plays a key part in shaping market coverage, driving editorial strategy, and ensuring timely, accurate, and insightful reporting across. She has been closely involved in breaking news coverage and in crafting stories that help decode the complex financial developments.

Before joining Mint, Saloni worked with some of India’s leading business newsrooms, including The Economic Times and Business Standard. Throughout her career, she has worn multiple hats—ranging from reporting and editing to contributing in-depth features and identifying new storytelling formats and market trends.

Her experience in fast-paced digital newsrooms has given her an edge in simplifying complex market concepts without losing analytical depth. Outside of work, Saloni enjoys reading books and spending time with her pet.

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