**Fed Chair Jerome Powell Marks Departure Amid Stable Interest Rates**
On April 29, 2026, Jerome Powell concluded his tenure as Chair of the Federal Reserve, announcing that he will hand over leadership to former Fed Governor Kevin Warsh during the upcoming FOMC meeting in June. The Federal Reserve has maintained the federal funds rate at 3.50-3.75% since December 2025. Despite a solid economic expansion, Powell faced dissent from Stephen Miran, who advocated for a 25 basis-point rate cut, while others opposed continuing the bias toward easing.
**AI Giants Report Record Earnings Amid Heavy Capital Expenditures**
Major players in the AI sector, including Microsoft, Alphabet, Amazon, and Meta Platforms, released impressive Q1 earnings. Microsoft reported earnings of $4.27 per share on revenues of $82.89 billion, exceeding expectations but down 2% post-announcement. Alphabet’s earnings of $2.81 per share and 22% revenue growth to $109.9 billion lifted shares by 5.8%. Amazon’s earnings beat estimates at $2.78 per share, with revenues of $181.5 billion, although high capital expenditures caused a 3.8% drop in shares. Meta Platforms surprised with $10.44 per share, significantly above estimates, yet capex spending led to a 6.7% after-hours decline.
5 Stocks Our Experts Predict Could Double In the Next Year
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