The Federal Reserve held its benchmark rate at 3.5%–3.75% in an 8–4 vote, with
three regional presidents—Beth Hammack, Neel Kashkari and Lorie Logan—backing
the hold but opposing the easing bias in the statement, while Stephen Miran
dissented in favor of a quarter-point cut; the Fed cited Middle East
uncertainty, said job gains have remained low with stable unemployment, and
noted inflation remains elevated partly due to higher global energy prices.
