Warsh on the Fed leaving interest rates unchanged

Today, as you know, our committee decided to vote by a nineto-3 vote to maintain the target range for the federal funds rate at three and one half to three and threequarters percent. The committee is continuing its policy of making ample reserves in the banking system. The economy is showing impressive resilience even with recent shocks.The trends are positive and reveal solid growth. Job gains have kept pace with the workforce and the unemployment rate has changed little. Inflation remains elevated relativ ...