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Federal Reserve holds rates, meeting shows unusually high dissent

financeApr 29, 20261413

The Federal Reserve left interest rates unchanged at its April meeting and recorded four dissenting votes, the most FOMC dissents since 1992. One official voted for an immediate rate cut while three others opposed adding an easing bias to the statement, revealing a sharp split over near-term policy. Jerome Powell presided in his final scheduled meeting as chair and said he will remain on the Board of Governors for a period of time. That internal division raises uncertainty about the timing of rate cuts and keeps pressure on mortgage rates, equity valuations, and corporate borrowing costs.

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