Divided Fed Holds Interest Rates Steady, but Three Members Voted to Hike The Federal Reserve's decision to keep interest rates unchanged at its latest meeting was not unexpected, but the 9 3 vote against hiking rates caught attention.
This marked the first time since September 2016 that three policymakers dissented from a unified view on monetary policy.
Beth Hammack of Cleveland, Neel Kashkari of Minneapolis, and Lorie Logan of Dallas were the dissenters, who have expressed concerns about inflation remaining above the Fed's 2% target for more than five years.