Fed Leave Rates Unchanged, Four Officials Dissent

The Federal Reserve leaves interest rates unchanged at 3.5% to 3.75%, with four dissenting officials—the first time since 1992. The dissents highlight a split over the easing bias and concerns about inflation and Middle East uncertainty. Markets showed mild reactions with equities slightly lower and yields elevated. - Fed holds rates steady at 3.5%-3.75% with four dissents. - Dissenters included those wanting a rate cut and those opposing an easing bias. - Last time four dissents occurred was October 1992. - Statement retains language suggesting the easing cycle may not be over. - Inflation cited as elevated due to global energy prices and Middle East developments. - Equities were down 0.2% and front-end yields rose 7 bps to 3.90%. - Brent crude remained high at $118 per barrel. - Fed split raises questions about future policy direction.