Fed FOMC Statement

The Federal Open Market Committee issued its latest statement today. The vote to increase the borrowing target range by 25 bps to 1.00-1.25% from 0.75-1.00% was 8 to 1, with Minneapolis Fed president Neel Kashkari voting against the action, preferring no change in monetary policy. Kashkari also dissented at the March 15 meeting when the…