Fed holds rates steady despite dissents - Semafor

The Federal Reserve voted to leave interest rates unchanged today as officials seek more information to decide whether additional hikes would be necessary to tame inflation. Two officials broke from their colleagues, both arguing that the central bank should raise rates by a quarter of a percentage point: Cleveland Fed President Beth Hammack plus Fed Gov. Lisa Cook, who had not previously dissented in a Fed vote. Chair Kevin Warsh reprised his typically hawkish tone after the announcement, telling reporters that “if you think that we’re tolerating some inflation target somewhere [above 2%], let us disabuse you of it.