The Federal Reserve's policy tone has quietly shifted, but it is still expected that interest rates will not be adjusted within the year.

BlockBeats News, June 18 — Tai Hui, Chief Market Strategist for Asia at Morgan Asset Management, stated that at the first policy meeting chaired by the new Federal Reserve Chair Jerome Powell, the FOMC unanimously decided to keep the federal funds rate target range unchanged at 3.50%-3.75%. Based on the signals released from this meeting, the Federal Reserve did not show an eagerness to ease monetary policy. Tai Hui further mentioned that the policy statement has undergone significant formal changes, with its length reduced by about half compared to previous versions. Compared to the detailed "four-paragraph" classic statement released in April this year, the latest statement has been greatly simplified and has completely abandoned the previously implied easing bias.

Meanwhile, the descriptions of economic growth, the labor market, and inflation outlooks have also become noticeably more concise. He believes that at the current interest rate level, the FOMC seems willing to remain patient, thus maintaining the judgment that the Federal Reserve will not adjust rates within the year. (Jin10)