Business
Fed Holds Rates at 3.75%–4%; Two Officials Wanted a Hike
The Federal Reserve left its benchmark rate unchanged in a target range of 3.75% to 4% on Wednesday, a month after its first hike in three years. The vote was 10–2: Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented in favour of a quarter-point increase. The statement said economic activity is expanding at a strong pace and inflation remains elevated. Chair Kevin Warsh holds a news conference at 11:30 a.m. B.C. time. Next decision: Dec. 9.
