No change! The Fed pauses rate cuts as expected! The market also predicts that before Powell steps down, the Fed will most likely stay put. As for Fed Chair candidate Waller, he cast a dovish dissenting vote, which feels more like a political pledge to Trump. Under the constant pressure from Trump, it’s becoming increasingly difficult for Fed Chair candidates to only talk data without taking a stance. Powell’s recent advice that ‘successors should stay away from politics’ feels more like self-consolation. ‘Bowing and bending to serve the powerful, just to make them smile!’ #Fed #Powell #Waller