 Neel Kashkari greets supporters during his run for governor of California in 2014 in Newport Beach, Calif. (Chris Carlson/AP) By Ana Swanson For most, the Fed's decision to raise interest rates on Wednesday for only the third time since the financial crisis began was a foregone conclusion. Before the announcement, markets pointed to a more than 95 percent probability of a rate hike, after numerous Fed officials had implied in public speeches that the economy was ready for higher interest rates. But not all Fed officials felt this way. The release revealed that one person of the Fed's 10-member open market committee dissented from the decision. On Friday morning, Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, explained in a statement why his lingering concerns with the economy persuaded him to vote to postpone the rate increase. In the United States, the central bank is charged with accomplishing two goals — keeping inflation near a target level, which is currently 2 percent, and getting the economy to full employment, a level where nearly all Americans who want jobs can find them. Kashkari, who previously ran for governor of California and helped the Treasury Department manage bank bailouts during the financial crisis, says the U.S. doesn't appear to be meeting either one of these goals quite yet. Read the rest on Wonkblog.
Chart of the day There are a disproportionate number of doctors who immigrated from the predominantly Muslim countries subject to President Trump's ban on travel working in the Midwestern states that helped him secure victory. Jeff Guo has more.
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