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Federal Reserve holds interest rates steady at 3.75% to 4%
The Federal Open Market Committee (FOMC) voted 10 to 2 to maintain the federal funds rate target range at 3.75% to 4%. The decision follows a quarter-point rate hike in September, marking the first increase since July 2023.
Fed Chair Kevin Warsh noted that inflation remains elevated and above the 2% target. While the committee upgraded its assessment of economic activity from “solid” to “strong,” Warsh emphasized the need for more data before determining future policy moves. He expressed confidence that inflation can be lowered to the target without significantly slowing growth or increasing unemployment, citing potential productivity gains from technology.
Two officials, Governor Lisa Cook and Cleveland Fed President Beth Hammack, dissented from the decision, both favoring a 25 basis point increase. The Fed also announced it will hold fewer rate-setting meetings in the future.
Entities
Beth Hammack · Cleveland Federal Reserve · FOMC · Federal Open Market Committee · Federal Reserve · Kevin Warsh · Lisa Cook · United States
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] Kevin Warsh believes inflation can be lowered to the 2% target without causing significant unemployment or slowing growth. rv-pro.com · internationalfinance.com
- [● 7 SOURCES] The FOMC upgraded its assessment of economic activity to growing at a strong or powerful pace. rv-pro.com · gentosha-go.com · cryptocompass.com · www.debtdiscipline.com · goldseek.com · +1 more
- [● 9 SOURCES] The Federal Reserve maintained the federal funds rate target range at 3.75% to 4%. www.chineseherald.co.nz · rv-pro.com · gentosha-go.com · cryptocompass.com · www.debtdiscipline.com · +3 more
- [● 4 SOURCES] Governor Cook and Cleveland Fed President Hammack voted in favor of a 25 basis point hike. gentosha-go.com · cryptocompass.com · www.debtdiscipline.com · goldseek.com
- [● 8 SOURCES] Fed Chair Kevin Warsh stated that inflation remains too high. rv-pro.com · gentosha-go.com · cryptocompass.com · www.chineseherald.co.nz · www.debtdiscipline.com · +2 more
- [● 8 SOURCES] The decision to hold rates was made with a 10 to 2 vote. www.chineseherald.co.nz · rv-pro.com · gentosha-go.com · cryptocompass.com · www.debtdiscipline.com · +2 more
- [● 6 SOURCES] The Fed upgraded its assessment of economic activity to growing at a strong pace. cryptocompass.com · www.debtdiscipline.com · rv-pro.com · internationalfinance.com · gentosha-go.com
- [○ 1 SOURCE] The Fed will hold fewer rate-setting meetings in the future. goldseek.com
- [● 2 SOURCES] Kevin Warsh expressed confidence that inflation can be lowered to the 2% target without causing significant unemployment or slowing growth. rv-pro.com · internationalfinance.com
- [○ 1 SOURCE] The Fed's current monetary policy is considered accommodative. investinglive.com