Kevin Warsh

Fed Holds Overnight Rates. Why Long Rates Are Poised To Rise.

The Fed just made it’s announcement following today’s FOMC meeting. All FOMC members except for Thomas Hoenig voted to leave the overnight bank-to-bank Fed Funds Rate the same at 0.25%. There was no reference to the Fed-to-bank Discount Rate, which is currently at 0.75% following a surprise 0.25% hike last month. As usual, the press