Fed holds rates steady amid the most dissents in decades

"The four total dissents were the most there have been at a Fed policy meeting since October 1992. This indicates significant divisions among Fed officials regarding future interest rate policies."

"The clause in the policy statement that the three dissenting reserve bank presidents object to implies a continuation of the rate cuts the Fed enacted late last year, which some officials want to avoid."

"There has been simmering resistance among Fed officials to signaling that further interest rate cuts are anticipated, especially given five consecutive years of above-target inflation."

The central bank's policy committee kept the interest rate target steady for the third meeting in a row, with dissent from four members. Three reserve bank presidents opposed the inclusion of an easing bias in the policy statement, while one governor favored a rate cut. This dissent marks the highest number since October 1992. There is growing resistance among Fed officials to signal further rate cuts due to persistent inflation. Jerome Powell's term ends on May 15, with a successor likely confirmed before the next meeting in June.

Read at Axios