Fed holds rates at 3.75-4.00%, as expected; 2 dissenters (Cook and Hammack)
ORIGINAL · NewsquawkFed holds rates at 3.75-4.00%, as expected; 2 dissenters (Cook and Hammack)Read originalHide original
Adds: "The accumulation of more information will help the Committee determine the policy stance appropriate to ensure a timely return of inflation". "Economic activity is expanding at a strong pace" (prev. Economic activity is expanding at a solid pace"). Keeps: "The Committee is continuing its policy of maintaining ample reserves in the banking system." Keeps: "Inflation remains elevated." Keeps: "Job gains have kept pace with the workforce, and the unemployment rate has changed little". Dissenters Cook and Hammack voted to raise rates by 25bps.
The Fed held rates at 3.75%-4.00%; two officials dissented in favor of a 25-basis-point increase. Its statement upgraded activity to strong while retaining elevated-inflation language.
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Adds: "The accumulation of more information will help the Committee determine the policy stance appropriate to ensure a timely return of inflation". "Economic activity is expanding at a strong pace" (prev. Economic activity is expanding at a solid pace"). Keeps: "The Committee is continuing its policy of maintaining ample reserves in the banking system." Keeps: "Inflation remains elevated." Keeps: "Job gains have kept pace with the workforce, and the unemployment rate has changed little". Dissenters Cook and Hammack voted to raise rates by 25bps.
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