Kevin Warsh answers uncertainty with silence
TLT•Context news
The Federal Reserve held interest rates steady on July 29, while three members of the Federal Open Market Committee dissented in favor of raising the federal funds rate by 25 basis points.
Breakingviews column
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
By Gabriel Rubin
WASHINGTON, July 29 (Reuters Breakingviews) - The central bank chair said strategically little, leaving markets to guess about monetary policy’s future path. With consumers sour about high prices and companies stuck in limbo, the board is fracturing. Warsh may relish dissent but he is ceding ground instead of taking action.
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