Key points from the Federal Reserve FOMC statement and Powell speech: The Federal Reserve keeps interest rates unchanged; Powell says he will remain a board member after stepping down.

Golden Finance reports, on April 30th, the Federal Reserve FOMC statement:
① The Federal Reserve maintains the target range for the federal funds rate at 3.5%-3.75%, in line with market expectations, marking the third consecutive time this year that the rate has been kept steady.
② The Federal Reserve states that the policy vote was 8 to 4: Mester voted against, advocating for a 25 basis point rate cut; Harker, Kashkari, and Logan also voted against, opposing the inclusion of an easing bias in the statement.
③ The Federal Reserve describes inflation as “still somewhat elevated,” rather than “moderately higher” as in previous statements, citing global energy prices as the reason.
④ The Federal Reserve seeks to achieve maximum employment and a 2% inflation rate over the long term; developments in the Middle East are increasing economic outlook uncertainty. The committee is concerned about the dual risks facing its dual mandate.
⑤ The Federal Reserve states that recent indicators show economic activity expanding at a solid pace. Employment growth remains low on average, and the unemployment rate has been nearly unchanged in recent months.
⑥ The Federal Reserve states that when considering further adjustments to the federal funds rate’s magnitude and timing, the committee will carefully evaluate the latest data, the evolving economic outlook, and risk balance.
Federal Reserve Chair Powell’s speech:
① The current policy stance is appropriate and helps to achieve the Federal Reserve’s policy goals; the current stance is very suitable for waiting.
② The number of officials supporting a shift toward a neutral bias has increased; perhaps the next meeting will consider changing the current easing bias, and the rate guidance may change at the next meeting.
③ If we need to raise interest rates, we will certainly signal it; currently, no one is calling for a rate hike.
④ Both mandates face risks, with long-term inflation expectations aligned with the 2% target. We hope to gradually bring inflation down to 2% while minimizing damage as much as possible.
⑤ After my term as Federal Reserve Chair expires on May 15, I will continue to serve as a Federal Reserve Board member.
⑥ Employment growth is slow, the unemployment rate has changed little, and consumer spending remains resilient; developments in the Middle East bring high uncertainty.
⑦ The independence of the Federal Reserve is under threat, and respect for the boundaries between the Federal Reserve and the Treasury is necessary. If the Federal Reserve makes politically colored decisions, market confidence will be lost.