Last night, the Fed cut rates by 25bp as expected. Powell's speech was pretty neutral. 3 votes against came from Trump’s loyalists: Bowman, Milan, and Waller . Their reason? They supported ✊ a rate cut of over 50bp!! Also, they mentioned last night that there will only be one rate cut in 2026. In my opinion, that’s total nonsense~ Powell steps down next May. The current frontrunner is Hassett, a low-interest-rate advocate and Trump’s handpicked candidate! No worries! With the new chair taking over in Q2 next year, things will start looking up!!!