Fed holds rates as Warsh cuts number of meetings
Cook and Hammack push for 25bp hike as chair announces strategy-focused meetings with no policy decisions
The Federal Open Market Committee (FOMC) has voted to leave rates unchanged at its penultimate meeting of the year.
Ten members of the committee voted for the hold today (October 28), with Lisa Cook and Beth Hammack opting to push for a 25 basis point increase instead. Hammack had been one of the dissenters at the FOMC’s July meeting, while Cook is often seen as a monetary policy ‘dove’.
Kevin Warsh, the Federal Reserve’s chair, told members of the press that politics had played “no role” in the
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