Kansas City Fed President Esther George explained her lone dissent against the Fed’s 75 basis point interest rate hike, saying she was worried it would add to confusion over the central bank’s policy. It was the largest hike since 1994.
Kansas City Federal Reserve President Esther George on Friday explained her lone dissent against the Fed’s 75 basis point interest rate hike earlier this week, saying she was worried it would add to confusion over the central bank’s policy.
Fed officials voted 10-1 on Wednesday to raise its benchmark interest rate by 75 bp to a range of 1.5%-1.75%. It was the largest hike since 1994. In her statement, George stressed she shares the Fed’s strong commitment to bring inflation back down to the 2% target.
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