WASHINGTON — The Federal Reserve held interest rates steady on Wednesday, but in its most divided decision since 1992 noted rising concerns about inflation in a policy statement that drew three dissents from officials who no longer feel the U.S. central bank should communicate a bias toward lowering borrowing costs.
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U.S. Federal Reserve Chair Jerome Powell attends a press conference following a two-day meeting of the Federal Open Market Committee (FOMC), at the U.S. Federal Reserve in Washington, D.C., U.S., April 29, 2026. REUTERS/Kevin Lamarque
Kevin Warsh, U.S. President Donald Trump's nominee to be next chair of the Federal Reserve, stands at the end of an April 21 Senate Banking Committee confirmation hearing on Capitol Hill in Washington, D.C.
U.S. Federal Reserve Chair Jerome Powell attends a press conference following a two-day meeting of the Federal Open Market Committee (FOMC), at the U.S. Federal Reserve in Washington, D.C., U.S., April 29, 2026. REUTERS/Kevin Lamarque
Kevin Warsh, U.S. President Donald Trump's nominee to be next chair of the Federal Reserve, stands at the end of an April 21 Senate Banking Committee confirmation hearing on Capitol Hill in Washington, D.C.
