The Federal Reserve left its benchmark interest rate unchanged at 3.50%-3.75%, marking the fifth consecutive meeting without a rate move. According to the policy statement cited by ChainCatcher, Hammack, Kashkari and Logan favored a rate hike. The statement also repeated that inflation remains elevated, with part of the pressure attributed to shocks. The decision keeps the policy stance steady, while the split described in the statement shows that some officials still preferred tighter settings at this meeting.
The Federal Reserve kept its benchmark interest rate unchanged at 3.50%-3.75%, extending its hold to a fifth straight meeting.
According to the policy statement cited by ChainCatcher, Hammack, Kashkari and Logan favored a rate hike. The statement also reiterated that inflation remains elevated, with part of that pressure linked to shocks.
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