Fed holds rates and maintains asset purchases in first vote since membership shake-up

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Kansas City Fed president Esther George

Kansas City Fed president Esther George was the only dissenter as the Federal Reserve maintained its asset purchase programme at its existing level and held rates on January 30.

The Federal Open Market Committee's (FOMC's) meeting was the first since its membership rotated at the turn of the year. The presidents of the Federal Reserve banks of Boston, Chicago, Kansas City and St. Louis are now full voting members.

Notably, Richmond Fed president Jeffrey Lacker will no longer hold a vote, but the

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