The Rate Guy Fed Meeting Recap
Jan 29, 2026
They break down the Fed meeting highlights and why rates stayed put. They discuss surprising dissents and the political dynamics on the board. Reporters ask tough questions Powell avoids. Powell’s reasons for attending a Supreme Court hearing get unpacked. They cover Powell’s advice for future leadership and the Fed’s stance on inflation, labor, and the timing of rate cuts.
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Powell's Repeated 'I Have Nothing' Moment
- JP Conklin jokes Jay Powell repeatedly said "I have nothing for you" when dodging political questions at the FOMC pressers.
- He frames the meeting as uneventful because Powell refused to engage on sensitive topics repeatedly.
Waller's Dissent May Be A Strategic Move
- Christopher Waller's dissent was surprising and may reflect political calculation with an eye toward the next Fed chair.
- JP suggests Waller's stance could be a bold play given the unsettled chair appointment process.
Stay Clear Of Elected Politics
- Powell advised the next Fed chair to stay out of elected politics and maintain institutional independence.
- He also urged appearing before Congress frequently to earn legitimacy through transparency.