On April 29, the uncertainty surrounding the economic outlook and changes in central bank leadership cast a shadow over this week's Federal Reserve meeting, with officials expected to maintain interest rates on Wednesday. The war in Iran has led to soaring energy prices and disrupted supply chains, increasing the likelihood of rising inflation and slowing economic growth, prompting decision-makers to signal a current inclination towards a wait-and-see approach. The Federal Open Market Committee (FOMC) is expected to keep the target range for the federal funds rate unchanged at 3.5%-3.75% for the third consecutive meeting. Investors will look for clues during what is likely Jerome Powell's final press conference as Fed Chair, to gauge how long the Fed intends to maintain this patient stance. However, perhaps of greater interest to the public will be Powell's comments regarding his future at the Fed. Powell has suggested that he may continue to serve as a member of the Board of Governors after his term as Chair expires on May 15. Officials will release a statement following the press conference at 2 PM local time in Washington, with Powell's press conference scheduled to occur 30 minutes later. Fed observers expect that this policy statement will not differ significantly from March, but may include a few adjustments. For instance, officials may revise their description of the labor market to reflect recent data showing that while hiring numbers are low, the labor market has stabilized.