Fed Keeps Rates Unchanged — But Two Vote against Powell’s ‘Wait-And-See’ Approach

The Federal Reserve kept interest rates unchanged Wednesday despite intense pressure from President Trump for a cut — and votes by two of the central bank’s governors against Jerome Powell’s “wait and see” approach.

The central bank’s policy-setting Federal Open Market Committee maintained the benchmark rate between 4.25% and 4.5%, where it has been since December.

It marked the first meeting in three decades where more than one governor on the 12-member board has dissented on an interest-rate vote .

“On the dissents, what you want from everybody, and also from a dissenter, is a clear explanation of what you’re thinking is and what are the arguments you’re making and we had that today,” Chairman Powell said during a press conference immediately following the meeting.

“This was quite a good meeting all around the table where people thought carefully about this.” (Read more from “Fed Keeps Rates Unchanged — But Two Vote against Powell’s ‘Wait-And-See’ Approach” HERE)