The Federal Open Market Committee (FOMC) — the policy setting arm of the Federal Reserve — voted unanimously to hold interest rates unchanged at their current 5.25% — 5.5% target in July.
Diane Swonk, chief economist and managing director with KPMG Economics, said the statement following the decision was more hawkish than many market participants hoped. There were only minor edits to the language regarding progress on inflation and the prospects for rate cuts.
Greg…
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