Fed minutes note pickup in labour, credit conditions
Minutes of the Federal Open Market Committee's March meeting, published on Tuesday, explained why Thomas Hoenig voted against the pledge to keep rates at record lows "for an extended period" for the second straight month.
Voting members of the rate-setting committee were unanimous in its decision to leave the target range for the benchmark rate unchanged at an all-time low. However Hoenig, the president of the Kansas Fed, disagreed with the phrasing of the Fed's statement. Hoenig dissented
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