Fed Holds Steady, Three Officials Rarely Vote Together for Rate Hike
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Fed Holds Steady, Three Officials Rarely Vote Together for Rate Hike
According to Jin10 Data, the Federal Reserve decided to maintain the federal funds rate target range unchanged at 3.5% to 3.75% with a 9-to-3 vote result on July 30 local time. Cleveland Fed President Hammack, Minneapolis Fed President Kashkari, and Dallas Fed President Logan voted in favor of a 25 basis point rate hike; this marks the first time since 2016 that three officials have cast dissenting votes in the same policy direction. Fed Chair Wash stated that inflation pressure cannot be eliminated quickly through simple means, and the current financial environment has tightened somewhat. Influenced by multiple factors including inflation remaining above target for five consecutive years, the Iran conflict pushing up oil prices, and AI infrastructure investment driving demand, hawkish pressure within the Federal Reserve continues to rise. The market generally interpreted the speech as dovish, expecting the rate hike timetable may be further delayed. After the meeting, the Dow Jones Industrial Average fell by over 1100 points, and the 30-year US Treasury yield rose to 5.228%, setting a new high since 2007.
Navigating Web3 tides with focused insightsTechFlow news, July 30, according to Jin10 Data, the Federal Reserve decided to maintain the federal funds rate target range unchanged at 3.5% to 3.75% with a 9-to-3 vote on July 30 local time. Cleveland Fed President Hammack, Minneapolis Fed President Kashkari, and Dallas Fed President Logan voted in favor of a 25 basis point rate hike, marking the first time since 2016 that three officials cast dissenting votes on the same policy direction.
Fed Chair Wash stated that inflationary pressures cannot be eliminated quickly through simple means, and the current financial environment has tightened somewhat. Affected by multiple factors such as inflation remaining above target for five consecutive years, the Iran conflict pushing up oil prices, and AI infrastructure investment driving demand, hawkish pressure within the Federal Reserve continues to rise. The market generally interpreted this speech as dovish, expecting the rate hike timeline may be further delayed. After the meeting, the Dow Jones Industrial Average fell by over 1100 points, and the 30-year U.S. Treasury yield rose to 5.228%, hitting a new high since 2007.
