Fed holds rates as three officials dissent for a hikeThe FOMC voted 9-3 to keep the federal funds rate at 3.5% to 3.75%, a fifth straight meeting without a move, with Hammack, Kashkari and Logan dissenting in favor of a quarter-point increase. That is the most dissents against the majority since September 2016. Kevin Warsh, in his second meeting as chair, said of the split: "I asked for a good family fight, and I got one." ...

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 ...