Four votes against! The Federal Reserve's divisions deepen as Powell steps down.

BlockBeats News, April 30th, the Federal Reserve maintained interest rates as scheduled, with a total of 12 voting members participating, including 4 dissenting votes, the highest since October 1992.

According to the FOMC statement, Federal Reserve Board member Milan voted against holding rates steady, supporting a 25 basis point rate cut; Cleveland Fed President Mester, Minneapolis Fed President Kashkari, and Dallas Fed President Logan voted to keep rates unchanged but opposed retaining the language of an accommodative stance in the statement.

In the FOMC statement, the phrase “further” was retained in the context of “considering further adjustments to the target range for the federal funds rate.” Market expectations suggest that the word “further” will be removed to weaken the implication of a rate cut. This meeting is most likely Powell’s last as Federal Reserve Chair. (Jin10)

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