Fed's George said she dissented because the 75 bps move added uncertainty

The big surprise that came along with the 75 basis point hike from the FOMC was the dissent of KC Fed President Esther George. Normally, she's one of the Fed's hawks so it was a shock that she would dissent.

A leading theory was that she dissented because she wanted the Fed to focus more on the balance sheet but her comments suggest she didn't like surprising the market and hiking at such a rapid pace.

"The speed with which we adjust the policy rate is important," she said, warning that "abrupt changes can be unsettling to households and small businesses."

Looking ahead, she said the case to continue hiking is "clear cut" and that inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term is showing no sign of decelerating so I don't think there are any real policy takeaways here.

Here's the statement: