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Governor Powell
Governor Powell
By Philip Marey, senior US strategist at Rabobank
Summary
As widely expected, the FOMC remained on hold. Governor Miran dissented again because he wanted a rate cut.
However, there were also three dissenters (Hammack, Kashkari and Logan) who wanted to remove the bias toward cutting from the statement.
On balance, Powell said that the center of the Committee was moving toward a more neutral place in thinking about cuts versus hikes.
Powell announced that this was his last press conference as Chair, but he would stay on as a Governor until he thinks...
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