Fed Holds Rates With 4 Dissents, Most Since 1992

The Federal Reserve kept interest rates unchanged, with four dissenting votes among 12 voting members, the most since October 1992. Fed Governor Michelle W. Bowman backed a 25-basis-point rate cut instead of holding rates steady. Beth M. Hammack, Neel Kashkari, and Lorie K. Logan supported holding rates but opposed keeping the statement’s dovish-leaning language. The FOMC kept the word “further” in its guidance, though investment banks had expected it to be removed.

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