For the first time since 1992, a Fed governor and president dissented together, as Kevin Warsh says the ‘monetary medicine’ is starting to work

The Federal Reserve held interest rates steady on Wednesday, six days before the midterm elections. Only two officials wanted to raise them, and one was Lisa Cook, the Fed governor President Donald Trump has tried to fire. The Federal Open Market Committee voted 10-2 to keep its benchmark rate at 3.75% to 4%. Cook was joined by Cleveland Fed President Beth Hammack, both “who preferred to raise the target range for the federal funds rate by 1/4 percentage point at this meeting,” the Fed said in its statement.

Source: Fortune Crypto