Federal Reserve holds benchmark rates at 3.50%-3.75% for the fifth consecutive meeting, with dissents favoring a hike.
Macro & Markets ·
The Federal Reserve maintained its benchmark interest rate in the 3.50%-3.75% range for a fifth consecutive meeting, with a 9-3 vote supporting the hold. Three officials—Hammack, Kashkari, and Logan—dissented in favor of a rate increase. The Fed characterized economic activity as expanding at a solid pace and noted job gains have kept pace with workforce growth while reaffirming commitment to its 2% inflation goal.