The Fed meeting remained neutral, Powell is staying on.

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Powell is staying on! Here's a summary of the key points from the early morning Fed meeting!

First: The Fed voted 8 to 4 to keep interest rates unchanged. Among the 4 dissenting votes, one (Milan) insisted on a rate cut, while the other 3 were not for a hike, but objected to the dovish stance in the policy statement. Powell also emphasized this point in his press conference.

Second: Powell is standing firm against Trump, saying that due to Trump's criminal investigation of him, he has chosen to stay and fight until the related issues are fully resolved. This is very interesting; it's the first time in decades that a Fed chair has left but continued as a governor.

Third: Although they emphasized the inflation expectations due to soaring oil prices, they still retained dovish wording in the statement.

Overall, the entire meeting maintained a neutral stance. At least there was no hawkishness that everyone feared.

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