The Federal Open Market Committee maintained the federal funds target range at 3-3/4 to 4 percent on October 28 in a 10 – 2 vote. Lisa D. Cook and Beth M. Hammack dissented, preferring a 1/4 percentage point increase. The statement describes strong economic expansion, resilient domestic spending and little change in unemployment. Inflation remains elevated, and the Committee says additional information will help determine the policy stance needed to return inflation to its 2 percent goal.
Related currencies / asset groups: USD
The FOMC held the target range at 3-3/4 to 4 percent in a 10 – 2 vote.
Federal ReserveLisa D. Cook and Beth M. Hammack preferred a 1/4 percentage point increase; the Committee says inflation remains elevated.
Federal ReserveLimitation: Two members preferred an increase, and the statement leaves future policy dependent on additional information.
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