FOMC members disagree on risks to growth

Stock markets around the world rose sharply on Wednesday after Donald Kohn, the vice chairman of the Federal Reserve, suggested that the Federal Open Market Committee (FOMC) would cut rates in December. Kohn's comments differ sharply from those made by Charles Plosser, the chairman of the Philadelphia Fed and a non-voting member of the FOMC, on Tuesday.

Kohn said the "increased turbulence of recent weeks [has] partly reversed some of the improved market functioning over the late part of Septe

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