WASHINGTON, April 29 -- The US Federal Reserve is widely expected to hold interest rates steady on Wednesday after a key policy meeting, likely the last chaired by central bank chief Jerome Powell, a frequent target of President Donald Trump's ire.

Policymakers will weigh the risks of surging energy prices and snarled supply chains due to the US-Israel war on Iran, with analysts widely expecting a third pause in a row as the effects of the conflict ripple through the world's largest economy.

All eyes will be on Powell's future plans at what could be his final press conference as head of the Fed on Wednesday afternoon.

While the central bank chief's tenure as chair ends May 15, his term as a member of the board of governors continues un...