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Fed holds benchmark rate steady in vote with three dissents
['Grace Noto', 'Senior Editor']
Construction Dive - Latest News
Dive Brief:The Federal Reserve on Wednesday held the main interest rate at a range between 3.5% and 3.75%.
The FOMC’s Wednesday statement did not delve into forecasting or forward guidance, a choice that the central bank feels is “especially prudent” in the current uncertain environment, he said.
“The path to central bank heaven involves delivering on our remit,” Warsh said.
The Fed Chair on Wednesday was quizzed on the July decision to hold the main rate steady amid continued pricing pressures, which had raised expectations for a hike.
In June comments prior to the Fed’s meeting last month, both Logan and Hammack warned of the possibility of a hike in the main rate, according to a report by Axios.