Watch Live: Fed Chair Powell's Last Press Conference

Kevin Warsh has secured Senate Banking Committee approval to become the next Federal Reserve chair. This makes Jerome Powell's upcoming press conference likely his last as Fed Chair. Although the Fed is expected to take no action, Powell's tone on inflation and economic growth remains uncertain. Senator Elizabeth Warren expressed concerns about stagflation and the political influence of Warsh's potential leadership. Gregory Daco highlighted that Warsh's proposed changes could lead to a less transparent and more politically influenced policy framework. Powell is anticipated to discuss both inflation risks and potential economic slowdowns in his final remarks. His commentary could be interpreted as hawkish if it aligns with Daly's view of policy restraint without harming the labor market. Currently, markets are not pricing in any interest rate changes until 2027. Powell may also be questioned about his future role as a Fed Governor, but is expected to offer no new information. The press conference is scheduled to begin at 1400 ET.