Fed holds rates at 3.75–4%; Warsh says price stability remains out of reach

The Federal Reserve held its benchmark interest rate at 3.75–4%, leaving its next policy decision dependent on further information as growth and employment remained strong and inflation stayed above target. In an October 28 press conference carried by CNBC, Fed Chair Kevin Warsh said the Federal Open Market Committee would assess incoming information to determine the policy stance needed to return inflation to its 2% goal in a timely manner. “The committee will deliver price stability,” he said. Warsh described an economy gaining momentum.

Source: TokenPost