Federal Reserve Consensus Cracks as Two Board Members Vote Against Keeping Interest Rates Unchanged

The Federal Reserve voted Wednesday to keep interest rates unchanged, a decision which elicited two dissenting votes from the central bank’s board of governors for the first time in more than 30 years.

At the press conference following Wednesday’s Federal Open Market Committee (FOMC) meeting, Powell announced that the central bank will continue to target an interest rate between 4.25 and 4.5 percent, where it has remained since December. This comes despite President Donald Trump’s urging Powell to lower rates.

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