In a widely expected move, the Federal Reserve held interest rates steady at a target range of 3.75% to 4.00%. While rates held steady, the two dissenting votes signal that the hawks may prevail over the next several meetings. “While Fed Chair Kevin Warsh has continually expressed his desire to be on a sustainable path to 2% inflation, many questions have been lobbed his way because of the hesitance to bring rates into a more restrictive territory,” said Christopher Chidzik, principal economist of AMT – The Association For Manufacturing Technology. “While rate changes could begin to tackle consumer concerns on affordability, it would do little to quell the ongoing expansion in manufacturing technology investment.
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