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Fed Holds Benchmark Rate at 3.5–3.75%…FOMC Vote Split 9–3

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  1. 1The FOMC voted 9–3 to hold the federal funds rate target range at 3.5–3.75%.
  2. 2Hammack, Kashkari and Logan favored raising the target range by a quarter percentage point at this meeting.
  3. 3The statement noted that inflation remains elevated relative to the 2% target and that uncertainty is high due to factors such as the Middle East conflict.

This 3-line summary is compiled from the report below.

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