Fed Powell - Chairman of the Federal Reserve - answers reporters' questions on the central banks policy and outlook following the decision to keep rates unchanged at 4.25% – 4.50%. The decision was largely expected.There were two dissents which is the first time two Fed officials dissented since 1993.A recap of the statement said:No rate change as expected; Waller and Bowman dissented, voting for a 25 bps cut.Kugler did not vote at this meeting. That was preannounced. The Fed said the economic outlook remains elevated, but dropped the June phrase that it “has diminished.”Growth was described as moderating in H1, softening from the prior “solid pace” language.Unemployment remains low, labor markets solid, and inflation somewhat elevated.No hints at future cuts; the Fed remains in a data-dependent, wait-and-see mode.The Fed repeated it will “carefully assess incoming data, the evolving outlook, and the balance of risks.”The USD retraced a little bit the gains seen earlier today, but the dollar remains nearer the high. The US stocks remain higher with the S&P up 0.26% and the NASDAQ index up 0.50% going into the press conference. Remember, Microsoft and Meta will report their earnings after the close. Shares of Meta are currently down -0.02%. Shares of Microsoft are up 0.03%.The US 2-year yield is at 3.879% up 0.4 basis points. The 10-year yield is 1.8 basis points at 4.346%.Gold is lower by $29 or -0.87% at $3298 ahead of the press conference. Bitcoin is down $170 at $117,710To watch the press conference LIVE, click below: Highlights from the Fed Chair Press conference will be added below: Economy is in a solid positioninflation somewhat above target.Believe current stance of policy leaves us well-positioned to respond in a timely wayModeration in growth reflects slowdown in consumer spending.Activity and housing sector remains week.Unemployment is low and has remained in narrow range.Wide set of indicators suggest jobs market is near its maximum at the moment.Expects PCE up 2.5% and core up 2.7% in 12 months through June.Most measures of long-run inflation expectations are consistent with that goal. This article was written by Greg Michalowski at investinglive.com.