Fed holds rates steady as Powell approaches end of Fed chair tenure

The Federal Reserve decided to keep interest rates steady at a target range of 3.5% to 3.75%, a move widely anticipated by markets. Economic indicators suggest continued solid expansion, though job gains remain low, unemployment is stable, and inflation is elevated, partly due to energy prices. The Fed also highlighted geopolitical risks, particularly in the Middle East, as a source of economic uncertainty. Market attention is now on Federal Reserve Chair Jerome Powell's press conference for signals on inflation, employment, and future policy steps. This meeting is significant as it may be Powell's last as chair, with speculation about his departure and the subsequent leadership transition, including the advancement of Kevin Warsh's nomination to replace him. The committee reiterated its commitment to maximum employment and a 2% inflation target, emphasizing data assessment for future policy adjustments.

(Source：Crypto Briefing)