Two Fed Members Dissent as FOMC Holds Rates at 3.75% to 4%
Photo: TokenPost
The Federal Reserve held its federal funds target range at 3.75% to 4% Wednesday, Oct. 28, with two policymakers favoring a quarter-point increase as consumer inflation reached 3.7% over the year through September. The Federal Open Market Committee (FOMC) announced the decision at 2 p.m. ET (18:00 UTC), approving the hold in a 10-2 vote. The committee last changed the range in September, when it raised rates by 0.25 percentage point. FOMC members Lisa D. Cook and Beth M. Hammack dissented, each preferring a 0.25 percentage point increase.
Source: TokenPost
