Fed Holds Rates at 3.50–3.75% on April 29…First 8-4 Dissent Since 1992

The FOMC maintained its target range for the federal funds rate at 3.50–3.75% for the third consecutive meeting, marking the first instance since October 1992 of four dissenting votes. Board member Miran advocated for a 25 bp cut, while Hammack, Kashkari, and Logan opposed language signaling future accommodation, despite supporting the hold.