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This is the Bloomberg Surveillance Podcasts.

I'm Jonathan Ferro, along with Lisa Abramwitz and Anne-Marie Hordern.

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We begin this out with stocks at record highs and the dollar at multi-year lows heading into the Fed's meeting.

Priya Misra of JPMorgan writing, expect power to focus on the Fed's mandate rather than the politics.

Despite all the Fed chair drama, we have a divided Fed with different views on risk to the mandate and the chair has only one vote.

Priya joins us now for more. Pray good morning.

Morning.

Is this a different Fed?

Because that one vote used to count for quite a lot.

I think, you know, the Fed chair's job is to sort of build consensus.

...