The Federal Reserve held its benchmark rate at 3.75% to 4%, six days before the midterm elections, by a 10-2 vote. Governor Lisa Cook and Cleveland Fed President Beth Hammack were the two officials favoring a 0.25 percentage-point increase. It was the first time since October 1992 that a governor and a regional bank president dissented together on the same side. Kevin Warsh said the “monetary medicine” was starting to work, but the Fed maintained that inflation remained elevated; annual inflation reached 3.7% in September, and markets priced in a 78% probability of a December hike.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
