Hi traders,
The FOMC held the fed funds rate at 3.75% to 4.00% in a 10-2 vote. Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented, and both wanted a 25bp hike.
The statement says inflation “remains elevated” and upgrades growth to a “strong” pace.
The bond market is already pricing in tighter policy: the 2-year Treasury is at 4.7% agains…
