Mike McKee

They do rise to 209,000 last week, but that's still a very, very low number.

Now, we should point out, you've heard a lot about

layoffs the last 48 hours or so, including more today from Dow, those will show up as jobless claims until those people's severance runs out.

So we wouldn't expect the numbers that we've heard this week to suddenly show up.

The battle between Jay Powell and Donald Trump

seems more and more irrelevant I think to Wall Street because it's not really a question of whether Powell will do something in the two three months he has left it is what is the new person going to do and what are they going to be able to do.

Well, pretty much as expected, John, no change in rates and the Fed leaves open the option of cutting rates in the future.

Stephen Myron and Chris Waller dissent in favor of a rate cut.

Michelle Bowman does not.

Waller's dissent, of course, could be read as an effort to retain his place as a finalist to replace Jay Powell later this year.

The statement keeps the line about considering the extent and timing of additional adjustments to the target range, suggesting more rate cuts are possible.

There's no hint, however, of what that would lead them to do that or when.

The economic assessment is very short and relative to recent statements.

slightly positive.

Available indicators suggest that economic activity has been expanding at a solid pace, it says.

Job gains have remained low, and the unemployment rate has shown some signs of stabilization.

Inflation remains somewhat elevated.

The officials say uncertainty about the economic outlook remains elevated, but they don't emphasize jobs as they have the last three statements or inflation as the major concern.

The committee is attentive to the risks to both sides of its dual mandate, the statement says.

The open market desk at the New York Fed is again told to maintain an ample level of reserves by buying Treasury bills or, if necessary, maturities of up to three years or less.