The Fed held steady this time—luckily, no face-slapping moment (called it on Tuesday that they’d likely hold steady again). The July FOMC voted 9-3 to keep rates unchanged, with three regional Fed presidents dissenting in favor of a 25 basis point hike. This marks the first time since 2016 that the Fed has seen three dissenting votes in the same direction during a policy decision. Key points from the rate decision statement: 1) Continued emphasis on achieving price stability. 2) Ongoing policy to maintain ample reserves in the banking system. 3) When appropriate, increasing the System Open Market Account’s securities holdings by purchasing Treasury securities (and, if necessary, other Treasuries with maturities of 3 years or less) to maintain adequate reserve levels. This is essentially the RMP reserve management purchases they’ve been doing since the start of the year. Of course, the more important part is seeing how much info we can get from Waller’s press conference. Sponsored by @bitget_zh: "Bitget Buy US Stocks: Instant Entry, Smooth Trading" #FOMC #FederalReserve #Bitget #Crypto #Finance https://bitget.com