Demetris Theodoulou @Demtheo27: "What Did Jerome Powell Say..."

Cyprus

What Did Jerome Powell Say Exactly? Let Me Explain.... The Federal Reserve decided to keep interest rates unchanged during this meeting, aligning with expectations due to better-than-anticipated economic activity and growth outlook. The FOMC voted 10-2 to maintain the current rate, with Governors Stephen Miran and Christopher Waller dissenting in favor of a 0.25 percentage point cut. Jerome Powell maintained a neutral tone, avoiding a hawkish stance despite some expectations. His statement, "We are well positioned to wait to adjust policy," reflects a standard response during these press conferences. The approach of making decisions on a meeting-by-meeting basis is typical at this stage. During the meeting, the topic of Fed independence was addressed, with Powell defending it. He also mentioned the ongoing Supreme Court case regarding the removal of a governor, calling it the most significant legal case in the Fed's 113-year history. While Powell has previously steered clear of politics, he made a notable comment this time, advising the next Federal Reserve Chair to "stay out of elected politics." Powell reaffirmed the 2% inflation target, despite discussions in financial media suggesting that a 3% inflation rate could become the new normal. With only two meetings left in his tenure, it will be interesting to see how policy evolves under the new Fed Chair. Personally, I remain optimistic that the new Chair appointed by the President will be capable and that Fed independence will continue to be upheld. Thank you for reading, and have a wonderful evening. $SPX500 $NSDQ100 $QQQ (Invesco QQQ) $BTC $GOLD

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