Jerome Powell chaired his final Federal Open Market Committee meeting on April 29, 2026, as his term as Fed Chair draws to a close. The Fed held interest rates steady at 3.50% to 3.75%, aligning with market expectations. Kevin Warsh, a former Fed governor critical of post-pandemic policies and with significant crypto investments, is set to take over on May 15.
Meanwhile, Bitcoin surged past $78,000, driven by a $121 million short squeeze. Prediction markets show 100% confidence Bitcoin will exceed $86,000 by April 30, and 99% confidence in Powell’s departure by June 30.
Attention now turns to the leadership transition and any policy shifts that could influence markets, particularly Bitcoin’s trajectory and Warsh’s initial statements.