FOMC Press Conference, April 29, 2026

Federal Reserve Board of Governors / Federal Open Market Committee · April 29, 2026

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Overview: What the Federal Reserve System is and does

Presentation

1:43 → 5:10(3m 27s)

Ian, a Federal Reserve staff member, outlined the structure and primary functions of the Federal Reserve System: the Board of Governors, 12 regional Reserve Banks, and the Federal Open Market Committee (FOMC). He listed core responsibilities including supervision of banks, consumer-protection enforcement, payment system operations, and serving as the government’s bank.

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The Federal Open Market Committee left its federal funds target range at 3.50%–3.75%. Chair Jerome Powell said he will step down as chair on May 15 but will remain on the Board of Governors as a governor for a period while watching an ongoing investigation and related legal steps to conclusion.

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Transcript

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