Uncertainty in Monetary Policy and Fed Independence

The July FOMC meeting delivered no rate change—but plenty of political drama. Powell refused to guide toward September cuts, triggering hawkish market reactions and rare dissent from Fed governors Waller and Bowman. Meanwhile, the White House unveiled a sweeping crypto policy roadmap during Powell's press conference, signaling a new era of fiscal dominance and shifting central bank relevance. NLW breaks it all down—from Powell’s quiet rebellion to the Fed’s waning independence and the rise of crypto on the policy stage.

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