US EditionFed holds rates steady but with highest level of dissent since 1992
Four policymakers dissented, the most since 1992, as officials kept rates at 3.5% to 3.75% and debated whether to signal future cuts.
- On Wednesday, the Senate Banking Committee will vote to confirm President Trump's nominee Kevin Warsh as the next Fed Chair, succeeding Jerome Powell, with approval expected.
- North Carolina Republican Sen. Thom Tillis dropped his block on Warsh's nomination after U.S. Attorney Jeanine Pirro closed the Justice Department's investigation into Powell on Friday.
- Fed policymakers are nearly certain to leave their key rate at about 3.6% on Wednesday, as inflation has jumped to 3.3%, a two-year high complicating rate cuts.
- Powell may announce Wednesday whether he will remain on the board after his term as chair ends May 15, though analysts warn of a 'two Popes' scenario increasing divisions.
- White House press secretary Karoline Leavitt suggested Trump will not seek to fire Powell once Warsh is confirmed, but Powell alone holds the final decision on whether to stay.
228 Articles
228 Articles
US Fed holds rates at 3.5%–3.75% for third straight policy: What does it mean for Indian stock market?
The FOMC voted 8-4 to hold the benchmark interest rate in a range steady and highlighted that inflation is elevated. The April policy meeting concluded on predicted lines, without any economic projections.
Fed holds rates steady amid sharp divide
The Federal Reserve held interest rates steady on Wednesday, but in its most divided decision since 1992 noted rising concerns about inflation in a policy statement that drew three dissents from officials who no longer feel the US central bank should communicate a bias towards lowering borrowing costs. A fourth dissent at the meeting came in favour of a quarter-percentage-point rate cut. "Inflation is elevated, in part reflecting the recent incr…
The Daily Caller
4 Fed Members Send Jerome Powell Out To Pasture By Bucking Him On Final Interest Rate Decision
Four committee members dissented Wednesday from the Federal Reserve's statement to keep the central bank's benchmark interest rate unchanged.
US Fed leaves rates unchanged as Powell set to remain on board
A divided US Federal Reserve has held interest rates steady for a third consecutive meeting, as policymakers grapple with heightened uncertainty linked to the war in the Middle East. The decision is expected to be the last overseen by Chair Jerome Powell.
Dissents, oil shocks, and the future of the Fed: 3 takeaways from Powell's last rate decision as chair
Jerome Powell has been chair of the Federal Reserve since 2018.FOMCWednesday was Jerome Powell's last meeting as chair, but he confirmed he'll remain on the Fed as a governor.April's FOMC decision had four dissents, the most in more than two decades.The Iran war and other supply shocks continue to foil the Fed's inflation goals.After eight years, Jerome Powell is clocking out.The Federal Reserve opted to hold rates steady at its third meeting of…
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