The Federal Reserve kept interest rates unchanged Wednesday despite intense pressure from President Trump — and stunning dissent from policymakers.
The Federal Reserve kept interest rates unchanged Wednesday despite intense pressure from President Trump — 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 has dissented on an interest-rate vote.
In its policy note, the Fed said: “Uncertainty about the economic outlook remains elevated.” That erased a phrase from the previous note that uncertainty had “diminished.
