The U.S. Federal Reserve's Federal Open Market Committee (FOMC) saw its first double dissent since 1993. While the FOMC decided to keep interest rates unchanged at 4.25 percent to 4.5 percent in the July 29-30 meeting, two members were of the opinion that the rate should be trimmed by 25 basis points.
Michelle W. Bowman and Christopher J. Waller were the two FOMC members who wanted a rate cut, while 10 other members, included Federal Reserve Chair Jerome Powell voted to keep the key lending rate steady.
