WS #13002
Fed holds rates at 3.50%-3.75% in 9-3 vote; three dissents (Hammack, Kashkari, Logan) favored a 25bp hike, marking first time since 2016 with three dissents in same direction. Statement notes solid growth, strong productivity, elevated inflation due to energy supply shocks. Fed swaps now show ~59.9% probability of September hike, down from earlier.
Fed holds rates steady with 3 hawkish dissents
Fed holds rates at 3.50%-3.75% in 9-3 vote; three dissents (Hammack, Kashkari, Logan) favored a 25bp hike, marking first time since 2016 with three dissents in same direction. Statement notes solid growth, strong productivity, elevated inflation due to energy supply shocks. Fed swaps now show ~59.9% probability of September hike, down from earlier.