#FOMCMeeting
1. Monetary Policy Decisions:
• Keeping the federal interest rate within the range of 4.25% – 4.50%, unchanged for the fifth consecutive time, a stabilizing policy targeted by the committee to analyze upcoming economic data.
• The decision came despite political pressure from the White House calling for a rate cut to support the economy.
• The committee confirmed the continued gradual reduction of its holdings of Treasury securities and mortgage-backed securities at a moderate pace monthly.
2. Dissenting Votes:
• The meeting witnessed rare bipartisan support from Federal Reserve governors, Michelle Bowman and Christopher Waller, opposing the decision to keep the interest rate unchanged.
• Both suggested a rate cut of 25 basis points, fearing the deterioration of the labor market and weak economic indicators.
• This is the first bipartisan criticism within the committee since 1993.