Micron reportedly accelerates HBM4 chip production expansion, monthly capacity to increase to 15,000 units
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The Federal Reserve holds rates steady as expected, with divisions resurfacing but fewer hawkish voices; Cook and two other voting members support a rate hike.
After three dissenting votes in July, there was once again division in this rate decision, with two of the 12 FOMC members opposed, indicating a decrease in hawkish dissent. Among the dissenters, Harker had already voted against holding rates steady in July due to his support for a rate hike, while Cook’s dissent is seen as a rebuke to Trump’s attempt to remove her. This statement changed the description of the economy from “steadily expanding” to “strong expansion,” continued to emphasize that inflation remains high, and newly added that accumulating information will help determine the policy stance needed to ensure inflation returns to target in a timely manner. According to the “New Fed News Agency,” the Fed’s decision to hold rates steady aims to gain time to assess whether further rate hikes are necessary.
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