#FOMCMeeting The FOMC meeting refers to the Federal Open Market Committee meeting, where the Federal Reserve decides on interest rates and monetary policy. Here's what happened in the last meeting ¹ ²:

- *Date*: The meeting took place on July 29-30, 2025.

- *Interest Rate Decision*: The Fed kept interest rates steady at 4.25%-4.50%.

- *Rationale*: The decision was based on current economic conditions, with the Fed citing "somewhat elevated" inflation and solid labor market conditions.

- *Dissents*: Two Fed officials, Vice Chair for Supervision Michelle Bowman and Fed Governor Christopher Waller, dissented, preferring to lower interest rates to support the labor market.

*Key Points from Fed Chair Jerome Powell's Press Conference:*

- *Future Policy*: Powell indicated that the committee is attentive to risks on both sides of its dual mandate but didn't provide clear guidance on future rate cuts.

- *Economic Outlook*: Powell mentioned that the economy's growth has moderated, and inflation remains somewhat elevated.

- *Rate Cuts*: Powell emphasized that no decision has been made about future rate cuts, and the Fed will carefully assess incoming data.

*Market Impact:*

- *Market Reaction*: The market remained steady after the Fed's decision, with traders anticipating potential rate cuts in September based on upcoming economic data.

- *September Rate Cut Expectations*: The probability of a September rate cut decreased after the meeting, with futures traders shifting rate-cut expectations to the Fed's late-October meeting ².