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  • 5 months ago
Jerome Powell’s Federal Reserve holds rates steady, but two Fed board officials cast the first pair of dissenting votes since the 1990s.

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00:00So on the dissents, you know, what you want from everybody and also from a dissenter is a clear explanation of what your thinking is and what are the arguments you're making.
00:12And we had that today.
00:13So I think basically this was quite a good meeting all around the table where people thought carefully about this and put their positions out there.
00:22As I mentioned, you know, the sort of the majority of the committee was of the view that inflation is a bit above target.
00:31Maximum employment is at target.
00:33That calls for modestly restrictive, in my way of thinking, modestly restrictive stance of policy for now.
00:40But we had two dissenters who I think, you know, you want that clear thinking and, you know, expression of your thinking.
00:48And we certainly had that today, I think all around the table.
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