🏛️ The FOMC Breakdown
The Fed kept interest rates steady at 3.50% – 3.75% as the Federal Reserve concluded its first meeting of the year.
This was widely expected by the market (97% certainty), but it wasn't unanimous. Two governors (Waller and Miran) actually voted for a cut.
The "Mixed Signals" Economy
The Good: GDP growth is soaring at 4.4%, driven by the AI boom and tech productivity.
The Bad: The labor market is softening, and inflation is still "sticky" near 3%—well above the 2% target.
The Fed's Stance: Powell basically said, "The economy is too strong for us to rush more cuts, but too fragile for us to ignore the job market."