POPA ReconFED HOLDS RATES, HAWKISH SPLIT EMERGES
FED HOLDS RATES, HAWKISH SPLIT EMERGES The Federal Reserve left its benchmark rate unchanged at 3.50%–3.75%, saying inflation remains above its 2% target while the economy continues to expand at a solid pace. The decision passed 9–3, with Hammack, Kashkari and Logan dissenting in favor of a 25-basis-point rate hike. The Fed also highlighted strong productivity, resilient job growth and ongoing ample reserves in the banking system. (@WalterBloomberg)
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