WASHINGTON—The Federal Reserve Wednesday held its benchmark interest rate steady at 4.25% to 4.50%—a move largely anticipated by markets—but not without internal disagreement.
For the first time since 1993, two Fed governors, Christopher Waller and Michelle Bowman, dissented from the decision, voting against keeping rates unchanged, CNBC reported.
CNBC noted that at a press conference following the announcement, Fed Chair Jerome Powell said no decision had been made regarding the central bank’s next move in September, tempering market expectations for a rate cut. He added that policymakers would need to assess the economic impact of tariffs before taking further action.