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Fed FOMC Statement Change List: Removal of Stable Unemployment Rate, Addition of "Impact of Middle East Situation on US Economy Remains Uncertain"

2 hours ago

**March 19 Summary: Key Changes to Fed FOMC Statement vs. January** - **Revised wording**: Replaced “The unemployment rate has shown some signs of stabilization” with “The unemployment rate has changed little in recent months” - **New addition**: Added a line noting, “The impact of the Middle East situation on the U.S. economy remains uncertain” - **Policy shift**: Fed Governor Waller — who backed a 25-basis-point rate cut at the last meeting — now supports holding rates steady This rewrite uses concise, news-friendly phrasing (e.g., “holding rates steady” is common in U.S. financial coverage, em dashes for clarity) and aligns with American English brevity for quick updates.
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After today's interest rate decision, the probability of a 25 basis point rate hike in April is 1%.

March 19 — CME FedWatch data shows that following today’s Federal Reserve interest rate decision: - Probability of holding rates steady through April: 97%; 25bp rate cut: 2%; 25bp rate hike: 1% - Probability of holding steady through June: 84.4%; cumulative 25bp rate cut probability: 14.4%; cumulative 25bp rate hike: 1.2% The next two FOMC meetings are scheduled for April 29 and June 17.

38 minutes ago

Powell: Possibility of Next Rate Hike Did Come Up

March 19 – Federal Reserve Chair Jerome Powell said Wednesday that most Fed participants do not view a rate hike as the base case, noting officials discussed the two-way risk of interest rates during their meeting and also mentioned the possibility of a hike as the next policy step.

38 minutes ago

Powell: Latest Fed Forecast Is Like a Game of Blind Man's Bluff

March 19 (Wednesday) — Federal Reserve Chair Jerome Powell said the uncertainty stemming from the Iran conflict has made the Fed’s latest economic projections feel like guesswork. “For this economic forecast summary, many have noted that if there’s one to skip, this is it,” Powell stated. “Given all the uncertainties from the conflict, we simply can’t predict what’s ahead.”

38 minutes ago

Powell: If a new Federal Reserve Chair is not confirmed by the end of my term, I will serve as the acting Chair

**March 19** Fed Chair Jerome Powell said Wednesday that if a new Fed chair is not confirmed by the end of his term, he will serve as interim Fed chair. He added he has no intention of leaving the Federal Open Market Committee (FOMC) before the Justice Department investigation is completed, and a decision on whether he remains in office after the probe concludes has not been finalized.

38 minutes ago

Powell: Believes It Is Important to Maintain a Moderate Tightening of Policy

March 19 – Federal Reserve Chair Jerome Powell said the policy rate is at the upper end of the neutral range, potentially slightly restrictive. He noted the rate currently sits at the edge between tight and not tight, adding he does not want to take overly restrictive policy action amid downside risks to the labor market. Powell emphasized it’s important to maintain a moderately restrictive rate.

38 minutes ago

Powell: No rate cut if inflation making progress

March 19 — Federal Reserve Chair Jerome Powell said Wednesday that some officials favor fewer interest rate cuts this year. While the median projection for the central bank’s interest rate path remains unchanged, the number of policymakers leaning toward a smaller number of cuts has risen significantly. Powell noted progress on inflation is expected but the pace of that progress is not as fast as anticipated. He emphasized: “If there is no progress on inflation, there will be no rate cuts.” He also warned that energy inflation is an issue that cannot be taken lightly.

38 minutes ago