Federal Reserve's July Interest Rate Decision Highlights: FOMC Wording Comparison, Powell's Term and Federal Reserve Independence

BlockBeats news, on July 31, highlights of the Federal Reserve's July interest rate decision are as follows:

FOMC statement:

1. Voting ratio: Likely to pass this interest rate decision with a 9-2 voting ratio, with governors Bowman and Waller likely voting against.

2. Comparison of wording: Little substantive change expected, or simplification of economic outlook uncertainty, acknowledging the slowdown in economic growth in the first half of the year.

3. Balance sheet reduction scale: Likely to remain unchanged (reducing $50 billion in U.S. Treasuries and $35 billion in MBS monthly).

Powell's press conference:

1. Interest rate outlook: How to view the 'two rate cuts' expectation suggested by the June dot plot? Will there be clues regarding a rate cut in September?

2. Economic data: Expected to emphasize the importance of data, continuing the communication style of data dependence and meeting-by-meeting decision-making.

3. Inflation and tariffs: May remain cautious, reiterating the importance of maintaining price stability; if emphasizing the upward risk of tariffs on inflation, it may be more hawkish than expected.

4. Term and independence: In the face of frequent pressure from Trump, unlikely to make substantive responses, expected to reiterate maintaining independence and professionalism during the term. (Golden Ten)