The Federal Reserve held its benchmark interest rate steady on Wednesday.
\n\nThe decision keeps the federal funds rate at a range of between 3.75 percent and 4.0 percent, the range set at its previous meeting in September.
\n\n“Economic activity is expanding at a strong pace. While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient. Productivity growth is strong, and capital investment is robust. Job gains have kept pace with the workforce, and the unemployment rate has changed little,” the Fed said in a statement at the conclusion of its two-day meeting. “Inflation remains elevated.”
\n\nTwo Fed officials, Governor Lisa Cook and Cleveland Fed President Beth Hammack, dissented from the decision, preferring to raise the target range for the federal funds rate by one-quarter of a percentage point.
\n\nAt a press conference on Wednesday, Fed chair Kevin Warsh announced a significant change to the Fed’s meetings. Beginning next year, one of the Fed’s eight meetings will be focused on broader economic questions and monetary strategy rather than directly considering the Fed’s policy rates. After that meeting, the Fed would not issue a post-meeting statement, Warsh said. Warsh added that he expects that the strategy meetings…
Original source: https://www.breitbart.com/economy/
