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.
252 Articles
252 Articles
Fed Holds Interest Rates Steady as Dissent Reaches Highest Level Since 1992
The Federal Reserve announced Wednesday, April 29 that it will keep its benchmark interest rate unchanged at a range of 3.5 percent to 3.75 percent. The decision met market expectations, but the number of dissenting votes reached its highest level since 1992. According to CNBC, this meeting was widely seen as potentially the final rate […]
Hawaii Tribune-Herald
Fed holds rates steady amid sharp divide over policy easing bias
WASHINGTON — 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 U.S. central bank should communicate a bias towards lowering borrowing costs. The post Fed holds rates steady amid sharp divide over policy easing bias appeared first on Hawaii Tribune-Herald.
BOK expected to hold rates in May after Fed pause
The Bank of Korea (BOK) is expected to hold its benchmark interest rate at 2.5 percent at its May meeting, following the U.S. Federal Reserve’s decision to keep its policy rate unchanged, local analysts said Thursday. Amid heightened economic uncertainty from the Middle East conflict and rising inflationary pressure driven by a surge in global oil prices, the central bank, like its U.S. counterpart, faces limited room for rate adjustments, they …
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.
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