Powell’s future looms over the Fed as rates likely stay put amid Iran energy inflation risks

A leadership shift could matter more than today’s rate

This week’s Fed policy meeting is expected to hold rates steady, with the benchmark likely staying in the 3.5% to 3.75% range for a third time. But markets are more focused on broader uncertainty: the economic outlook is murky, and the Fed’s leadership transition—along with Iran-war-linked energy shocks—could complicate the next moves.