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Federal Reserve Holds Rates, Sets Upper Bound at 3.75%
The Federal Reserve left rates unchanged and kept the upper bound at 3.75%, in line with expectations. Wall Street Journal reporter Nick Timiraos said four officials dissented on the rate pause. Timiraos said three bank presidents wanted to remove the easing bias, while one governor dissented in favor of a rate cut. Timiraos said the last Fed meeting with four dissents was in 1992.