Odaily According to CME FedWatch Tool: The probability of the Fed cutting rates by 25 basis points by March is 11.9% (15.5% before the meeting), the probability of keeping rates unchanged is 88.1% (84.2% before the meeting), and the probability of a cumulative 50 basis point cut is 0.1% (0.4% before the meeting). The probability of a cumulative 25 basis point cut by the Fed by April is 24.5%, the probability of keeping rates unchanged is 73.5%, and the probability of a cumulative 50 basis point cut is 2%.

Odaily News The Federal Reserve kept interest rates unchanged as expected and indicated that its decision in March will depend on incoming data. Sid Vaidya, an analyst at TD Securities Wealth Management, stated that the statement acknowledged strong GDP growth and stable unemployment, raising the question of how much emphasis the Fed will place on persistently high inflation. Recent series of rate cuts have supported employment. Therefore, Sid Vaidya suspects that the latest statement may signal the Fed's renewed focus on inflation. (Jin10)

Odaily News Fed Chair Powell responded on Wednesday to a question about what he would say to his successor. He indicated he would tell the next Fed Chair not to get involved in political matters. "Stay out of elected politics, don't get involved in elected politics," Powell said during a press conference. He added, "Our window into democratic accountability is Congress. Going to Congress to talk to the people is not a passive burden, it's an active regular obligation. If you want democratic legitimacy, you have to earn it through interaction with our elected overseers." (Jin10)

Odaily News According to Yahoo Finance: U.S. Treasury Secretary Bessent stated that Trump's candidate for Federal Reserve Chair could be announced in about a week.

Odaily News: Federal Reserve Chair Powell: If we see this (tariff inflation peaking and then declining), it would indicate we can ease policy. (Jin10)

Odaily News Federal Reserve Chair Powell: (When asked if the Fed has responded to the Justice Department's subpoena) There is no information to provide today. Will not elaborate further on statements regarding the subpoena. No plans yet for after the Fed Chair term ends. (Jin10)

Odaily News: Ryan Detrick, Chief Market Strategist at Carson Group, stated that the Federal Reserve did not cause any waves, and the market widely expected them to hit the pause button. We may not see any rate cuts until after Powell leaves the Fed in May. The potential good news is that they mentioned some positive factors regarding the labor market, but clearly inflation remains a concern. We know that Milan entered the Fed to stir things up, but Waller's choice is somewhat intriguing. His name is still on the list of potential candidates for the next chair, so I'm sure he's also trying to catch Trump's attention, showing that he remains firmly in the dovish camp. The Fed's independence is indeed a real issue, and the next chair will face immense pressure to cut rates. (Jin10)

Odaily News Fed Chair Powell: The policy rate is within a reasonable range of estimates for the neutral rate. (Jin10)

Odaily News Fed Chair Powell: The U.S. economy has solid foundations, the U.S. economy expanded at a solid pace last year, and the economy will enter 2026 on a solid footing. The unemployment rate has shown some signs of stabilizing. Current policy helps make progress towards achieving two major goals. (Jin10)

Odaily News According to Goldman Sachs analyst Kai Hai, given strong economic data and signs of stabilization in the labor market, the Federal Reserve is likely to keep its policy unchanged for now. However, we expect rate cuts to resume later this year, as slowing inflation will allow the Fed to implement two more "normalization" cuts, bringing interest rates back to the neutral level perceived by members of the Federal Open Market Committee. (Jin10)

Odaily News According to Pepperstone analyst Michael Brown, the policy statement saw almost no changes, although the assessment of economic conditions was upgraded to reflect a "solid" pace of growth. He stated that attention will shift to the press conference, where Fed Chair Powell might mention that the current federal funds rate is likely within a reasonable estimate of the neutral rate range. However, he is expected to firmly avoid any questions regarding his plans beyond May. (Jin10)

Odaily News Currently, Waller's dissenting vote is being linked to his campaign for the Federal Reserve Chair position, at least according to Michael Brown, an analyst at brokerage Pepperston. He stated that this "might keep Waller's slim hopes of succeeding Chairman Powell alive for a while longer."

Polymarket data shows that Kevin Warsh's probability of becoming Fed Chair is currently reported at 28%, Rick Rieder's probability has risen to 39%, Kevin Hassett's probability is currently reported at 6%, and Christopher Waller's probability is currently reported at 12%.

Odaily News The Federal Reserve kept interest rates unchanged today, citing that inflation remains elevated and economic growth remains robust. The policy statement offered little clue as to when the next rate cut might occur. The Fed decided to maintain the benchmark interest rate in the range of 3.50%–3.75% by a vote of 10 in favor and 2 against. The statement noted, "Economic activity has continued to expand at a solid pace." Governors Waller and Milan cast dissenting votes, advocating for a 25 basis point rate cut. The statement did not signal any timing for the next rate cut, stating only that the "extent and timing" of "further adjustments" would depend on incoming data and the economic outlook. Meanwhile, the Fed stated that inflation "remains somewhat elevated," while the labor market "has shown some signs of stabilization." Although the Fed noted that "job gains have remained low," it removed language from its previous statement about increased downside risks to employment, indicating that policymakers' overall concern about a rapid deterioration in the labor market has eased somewhat. (Jin10)

Odaily News: Federal Reserve FOMC Statement: Committee members passed this interest rate decision with a 10-2 vote. (The previous meeting was 9-3)

Odaily News The Fed held steady as expected, spot gold rose briefly by $14, currently trading at $5290.75 per ounce, and spot silver rose briefly by $1.2, currently trading at $112.42 per ounce. (Jin10)

Odaily News Fed FOMC Statement: Fed Governors Milan and Waller dissented from this interest rate decision, supporting a 25 basis point rate cut. (Jin10)