Odaily reported that U.S. Treasury Secretary Bessent stated that it would be unusual for outgoing Federal Reserve Chair Powell to remain as a Fed governor. For someone who has always emphasized norms, his unilateral decision would run counter to tradition. Kevin Warsh will bring a fresh perspective to the Federal Reserve with a clear system of accountability, effective management mechanisms, and sound policy-making.

Odaily Planet Daily News: Federal Reserve Chairman Jerome Powell stated at a press conference that monetary policy may be in a neutral range with respect to its impact on the economy. He noted, “I believe we are very close to the neutral rate, which could be in the range of 3% to 4%, while the current federal funds rate target range is 3.5% to 3.75%.” He added, “If rate hikes are needed, we will signal and implement them, and vice versa.” (Jin Shi)

Odaily reported that Federal Reserve Chairman Jerome Powell stated at a press conference that he will continue to serve as a Fed governor for a period of time after stepping down as chairman. Powell noted that over the past three months, the Federal Reserve has suffered unprecedented damage, and he is determined to defend its independence. Powell made it clear that the damage he referred to was not political criticism but purely legal actions. He said, 'What has happened over the past three months leaves me no choice but to stay on.' Powell stated that the Department of Justice will not launch another investigation into him unless a criminal referral is made by the Federal Inspector General. However, Powell was not satisfied with this, saying, 'I will continue to serve as a Fed governor for a term to be determined,' and pledged to 'keep a low profile.' (Jin Shi)

Odaily Planet Daily News: Federal Reserve Chairman Powell stated at a press conference that, although some voted against maintaining the dovish stance wording in the statement during the latest monetary policy meeting, he believes officials are not inclined to raise interest rates. Powell said, "People are not saying we need to raise rates now. The discussion is more about whether the Fed should maintain a neutral stance on the policy outlook." (Jin Ten)

Odaily Planet Daily News Analysts Anna and Stuart pointed out that today's decision to keep interest rates unchanged was expected, but the dissenting opinions were striking. It is quite ironic that Powell, widely seen as a consensus-builder, presided over the meeting with the highest number of dissenting votes during his tenure as Fed Chair, which was likely his last. This policy statement also upgraded the description of inflation from "somewhat elevated" to "elevated." Coupled with the apparent divisions within the committee, this highlights the challenge Kevin Warsh faces in achieving the interest rate cuts that Trump desires. Unless there is a significant deterioration in the labor market, it is difficult to imagine this divided committee taking action to cut rates anytime soon. (Jinshi)

Odaily Planet Daily News: Federal Reserve Chair Powell stated that he will never become a shadow chair. (Jin Shi)

Odaily reported that Federal Reserve Chair Jerome Powell said he welcomes the DOJ's announcement last Friday regarding the (closure of the investigation into Powell). Over the past weekend, the DOJ provided assurances that the investigation would not be reopened unless there is a criminal referral. I will not leave until the DOJ's investigation is completely concluded. I will continue to serve as a governor after May 15th, for an undetermined period, and will leave the Fed at an appropriate time. I will serve as a governor in a low-key manner. (Jin Shi)

Odaily: Federal Reserve Chair Powell said that nominee for Fed Chair, Warsh, will serve as Chairman of the FOMC. (Jin Shi)

Odaily: Federal Reserve Chair Powell: I stand by my position; I will not leave until the Department of Justice investigation is fully concluded. I will remain as a governor after May 15. (Jinshi)

Odaily Planet Daily News: Federal Reserve Chair Powell stated that recent inflation expectations have increased, with little change in the unemployment rate. Long-term inflation expectations are consistent with the 2% target. (Jinshi)

Odaily Planet Daily: Federal Reserve Chair Powell said, "This is my last press conference as Chair. Congratulations to Warsh."

Odaily Planet Daily News Analyst Anstey pointed out that we seem to be in uncharted territory and need more time to understand the current situation. It should be noted that regarding the interest rate decision itself, the only dissenting vote came from Milan, who wanted a 0.25 percentage point rate cut. Meanwhile, the other three members—Hammack, Kashkari, and Logan—believe it is appropriate to keep rates unchanged today. Interestingly, these three committee members who dissented on the policy stance essentially interpreted this statement as leaning dovish. Because literally, it is clearly neutral: the committee will adjust its monetary policy stance in a timely manner based on actual conditions to prevent risks that could hinder the achievement of the committee's goals. The "goals" are, of course, maintaining price stability and achieving maximum employment. But in my view, these three seem to think this statement primarily refers to the employment side of the mandate. (Jinshi)

Odaily reported that the Federal Reserve kept interest rates unchanged as expected, with a total of 12 voting members participating, among which 4 dissenting votes were cast, the highest number since October 1992. According to the FOMC statement, Fed Governor Michelle W. Bowman voted against maintaining interest rates and supported a 25-basis-point rate cut; Cleveland Fed President Beth M. Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie K. Logan voted to keep rates unchanged but opposed retaining the dovish-leaning language in the statement. The FOMC statement retained the word "further" in the phrase "in considering the extent and timing of further adjustments to the federal funds rate target range." Investment banks had expected the word "further" to be removed to weaken the implication of a rate cut bias. This meeting is likely to be the last one chaired by Jerome Powell as Fed Chair. (Jinshi)