Analysts: Unexpected divisions within the Fed; Warsh faces numerous challenges upon taking office.

Analysts Anna and Stuart pointed out that today's unchanged interest rate policy was expected, but the dissenting opinions were noteworthy. Ironically, Powell, widely seen as a consensus-builder—and likely at his last meeting as Fed chair—led the meeting with the most dissenting voices. The policy statement also upgraded the description of inflation from "somewhat high" to "high." Coupled with the apparent divisions within the committee, this highlights the challenges Kevin Warsh faces in achieving Trump's desired rate cut target. Unless there is a significant deterioration in the labor market, it's hard to imagine this divided committee acting quickly to cut rates. (Jinshi)