Three Fed presidents dissent, pushing for rate hike

The Federal Reserve held interest rates steady at 3.5%-3.75%, but three regional presidents dissented, advocating for a 25 basis point hike to combat inflation. The 9-3 vote is the largest policy split since 2016, signaling deep disagreement within the Federal Open Market Committee. Chair Kevin Warsh described the meeting as a 'family fight' over the timing of future moves.