Federal Reserve holds rates with three members dissenting
Hammack, Kashkari and Logan push for 25bp rise in what FOMC chair says was a collegial ‘family fight’
The Federal Open Market Committee has voted to hold rates at their current target level of 3.5–3.75%.
The chair of the Federal Reserve, Kevin Warsh, announced the decision today (July 29). He said the committee’s two-day discussion – in which Beth Hammack, Neel Kashkari and Lorie Logan, respectively the presidents of the Federal Reserve Banks of Cleveland, Minneapolis and Dallas, all voted for a 25bp hike – had been “collegial and constructive”.
Warsh said the discussion was focused on
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