Economy / Markets
Fed holds at 3.75-4% as two officials vote to raise rates
The FOMC left the federal funds target range at 3.75%-4% on a 10-2 vote, with Lisa Cook and Beth Hammack preferring a quarter-point increase. The statement said inflation “remains elevated” and that more information is needed before the next move, while describing activity as expanding at a strong pace and capital investment as robust. Chair Kevin Warsh also set out a structural change to how often the committee meets.