Fed holds rates in 8-4 vote as four members dissent

The Federal Reserve's Federal Open Market Committee (FOMC) has passed a resolution to hold interest rates steady following an 8-4 vote. Governor Milan dissented in favor of a 0.25 percentage point rate cut. Governors Hamack, Kashkari, and Logan also dissented, opposing the inclusion of language in the policy statement that indicated a bias toward monetary easing.