📍FOMC Minutes: Fed keeps interest rates, continues to wait for data

In the FOMC Minutes, the Fed announced maintaining the interest rate at 3.5%-3.75%. The reasons:
- Inflation remains above target
- The labor market is beginning to slow down, businesses will face pressure from AI
- Risks from energy prices and geopolitical issues
- Risks from the private credit sector.
📌 The Fed's policy direction:
- The Fed leans toward keeping interest rates high for longer
- May cut interest rates once more by the end of 2026
- Not ruling out the possibility of raising rates again if inflation worsens
📌 Economic forecast updates:
- GDP forecast revised from 2.3% to 2.4%
- PCE forecast revised from 2.5% to 2.7%
- Growth remains but not strong
- Unemployment is at a moderate level.
Quite hawkish, but the market is not paying attention, and Powell's term is almost ending. There will definitely be policy volatility expected after Kevin Warsh takes over as Fed chair.