Analysts: The Fed is unlikely to cut interest rates before Powell leaves office; Waller is trying to get Trump's attention.

Ryan Detrick, chief market strategist at Carson Group, said the Fed didn't make any waves, and the market widely expected them to press the pause button. We probably won't see any rate cuts until Powell leaves the Fed in May. The potential good news is that they mentioned some positive factors regarding the labor market, but inflation is clearly still a concern. We know Milan entered the Fed to stir things up, but Waller's choice is somewhat intriguing. His name is still on the list of potential next chair candidates, so I'm sure he's also trying to get Trump's attention to show he remains firmly in the dovish camp. The Fed's independence is indeed a real issue, and the next chair will face enormous pressure to cut rates. (Jinshi)