Following the April meeting of the Federal Open Market Committee (FOMC), the Federal Reserve opted to maintain its current stance, leaving interest rates unchanged. The target for the federal funds rate remains at a top level of 3.75%, where it has stood since December. This meeting may represent the final policy decision led by Jerome Powell in his role as Chair of the Fed’s Board of Governors, bringing his eight-year tenure in that position to a close. President Trump’s nominee, former Fed Governor Kevin Warsh, is widely expected to secure Senate confirmation and take over in time for the next FOMC gathering. However, Powell plans to continue serving as a member of the Board of Governors after relinquishing the Chair position. …Powell has said he will remain as a Governor as long as the Justice Department’s probe into the cost of the renovations to the Fed’s headquarters remains active.