Fed Keeps Rates Steady As Powell's Leadership Nears End | Balance of Power 04/29/2026

Summary

The episode covers the Federal Reserve leaving rates unchanged with four dissenters, Jay Powell's final press conference, and earnings from Meta, Alphabet, Amazon, and Microsoft. It also discusses the ongoing U.S.-Iran conflict, a bipartisan bill to ban Chinese connected cars, a Supreme Court ruling on voting rights, and a breaking news report on Anthropic's potential $900 billion valuation.

• Fed holds rates steady; Powell says he will stay as governor after his chair term.
• Tech earnings mixed: Alphabet up after hours on cloud growth, Meta down on high CapEx.
• Brent crude hits multi-year highs above $120 amid Strait of Hormuz blockade.
• Michael Allen says the blockade needs time to pressure Iran economically.
• Senators Slotkin and Moreno propose a bipartisan bill to ban Chinese connected cars.
• Supreme Court limits use of Voting Rights Act for majority-minority districts.
• House passes FISA reauthorization 235-191.
• Anthropic reportedly considering funding at over $900 billion valuation.