The Fed wrapped up its meeting, no rate cuts for now, and they might even hike rates. Inflation is more stubborn than expected—can you believe it? Interest rates remain unchanged at 4.25%-4.5%. While there’s no cut, there’s internal drama—one governor voted against the decision, arguing that rates should be cut immediately. Rate cuts this year are looking even less likely. The latest dot plot shows there might only be one rate cut (25 basis points) for the entire year. At the same time, they’ve significantly raised this year’s inflation forecast, expecting prices to climb even higher. Powell’s tone was hawkish. He emphasized not to expect rate cuts anytime soon, saying they need to see inflation come down in a tangible way first. He even mentioned that discussions have started internally about whether the next step should be a rate hike. He blamed inflation on tariffs and rising energy prices. Powell isn’t planning to leave. Regarding rumors about his potential resignation, he responded that he has no such plans and will stay until his successor takes over—he doesn’t want to throw the Fed into chaos. After the meeting, all three major U.S. stock indices fell (Nasdaq down 1.46%), gold plummeted (down over 3%), and crude oil surged due to Middle East tensions (Brent crude broke $105).