Main content of the FOMC meeting

SUMMARY OF FED CHAIR POWELL'S REMARKS OF NOTE

- Remained silent on sensitive issues, declined to answer questions related to the Department of Justice (DOJ) investigation as well as whether he would continue at the FED until 2028 after his term as Chair ends in May.
- The FED does not comment on the USD, does not target exchange rates, but focuses on broader economic conditions such as inflation and employment.
- The entire committee supports keeping interest rates unchanged. For future decisions, the FED will wait for new data to make assessments.
- The majority of the impact of tariffs on inflation has likely already occurred. Inflation expectations will return to 2% provided there are no further rounds of tariffs imposed.
- Currently, no one at the FED is considering raising interest rates; that is not a scenario on the table.🕊
- When asked if he had any advice for his successor as Chair of the FED, Powell advised: 'Stay away from politics.'
- Don't read too much meaning into the rise in Gold prices. The FED monitors precious metals but does not consider it a special signal for macroeconomic conditions.