00:00Next is updates on Awani International, including the Federal Reserve held its policy rate steady on Wednesday, as was widely
00:08expected, citing rising concerns about inflation in what is likely to be Jay Powell's last meeting as chair.
00:14The decision was the most divided since 1992, with eight officials voting to hold the Fed funds rate in the
00:22range of 3.5 percent to 3.75 percent, and four dissenting three who took issue with the Fed's bias
00:28towards easing rates and one who voted to cut rates.
00:33Where we're at is we think our – really, we think our policy rate is in a good place.
00:38If we need to hike, we will certainly signal that, and we will certainly do it.
00:43And if we need to cut, then – or if it's appropriate to cut, then we'll signal the opposite.
00:48I think we – because we feel like we're in a good place to move in either direction, nobody's calling
00:55for a hike right now.
00:58So, it really is going to depend on how things evolve.
01:03Traders were betting on Wednesday there would be no rate cuts in 2026.
01:08Traders were seeing as much as a 25 percent chance of a rate hike in the next year in the
01:14minutes following the decision,
01:15reflecting in part concerns about the inflationary impact of oil prices that have risen above $100 a barrel, again with
01:23the Iran war continuing.
01:26Investors said the vote and the macroeconomic backdrop point to challenges ahead for Kevin Walsh when he replaces Powell as
01:33chair next month.
01:34Meanwhile, Powell said he'll be staying on the Fed Board of Governors after his term as chair ends in May.
01:40He said it was important for Americans to be able to depend on a central bank free of political influence.
01:47He said it was important for Americans to be able to depend on a central bank free of political influence.
01:54That's the responsible astonishment and he insisted on everything else, I can see some of the latest comments at times.
01:55He expectedоко paper cuts forward and he was able to grow up both ways and impress all their attention rotate
01:56away.
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