Preview: Powell Takes the Stage Tonight, Fed Chair's Regular Public Q&A Session Could Become History

April 29: The Federal Reserve will announce its April interest rate decision tonight at 2 a.m. Beijing time (April 30). CME’s FedWatch Tool puts the probability of no rate change at 100%. Following the decision, Fed Chair Jerome Powell will hold his last formal press conference of his tenure—potentially marking the end of regular post-meeting Q&As for top Fed officials. Supporters of regular Fed chair press conferences argue they let the central bank shape the narrative around rate moves and help markets absorb policy details. But critics, including Kevin Warsh—Trump’s pick to succeed Powell—call the Fed’s communication excessive. Warsh is expected to be confirmed before the Fed’s next policy meeting in mid-June, and he has hinted he may scrap regular press conferences entirely. Powell launched post-meeting pressers in early 2019, less than a year into his term, saying he wanted to “summarize economic conditions in plain language” since monetary policy impacts everyone. Last week, in testimony to the Senate Banking Committee, Warsh signaled he may end the practice, stating: “You need important news to share when holding a press conference.”