The Federal Reserve left interest rates unchanged at a target range of 3.5% to 3.75% at its April 29 meeting, and the decision drew 4 dissents, the highest number since October 1992. [1]
Three regional bank presidents — Beth Hammack, Neel Kashkari and Lorie Logan — opposed including any easing bias in the policy statement, while Governor Stephen Miran voted for a rate cut. [1]
The split came as the statement kept the phrase “additional adjustments,” language that signals more rate cuts could come later. Dissenting officials said they remained wary because inflation and growth pressures are still in view. [1]
Fed Chair Jerome Powell said he saw no need to rush a change in language. “I didn't think we needed to do it this meeting,” he said. “There doesn't need to be any rush to make that decision now.” [1]
Powell’s term as chair ends on May 15, and officials said this was likely his final meeting in the post. [1]
