Fed Holds at 3.5–3.75% With Most Divided Vote Since 1992
The Federal Reserve held its benchmark interest rate steady at 3.5%–3.75% for the third consecutive meeting, citing persistent inflation, sluggish job growth, and uncertainty from Middle East energy markets. Four committee members dissented — the most internal disagreement the Fed has seen since October 1992 — signaling meaningful division over whether rates should move higher. JPMorgan strategist Bob Michele now believes the Fed could stay on hold through the end of the year, while Jerome Powell confirmed he will remain on the Fed's Board of Governors after his chairmanship concludes in mid-May.
Rates held at restrictive levels for longer means borrowing costs stay elevated, squeezing corporate margins and consumer spending — headwinds for growth-sensitive equities and rate-sensitive sectors like real estate and utilities. The unprecedented level of internal dissent suggests the next move could be a hike rather than a cut, which would pressure bond prices further and keep the dollar strong. Crypto and high-growth tech, which rallied on rate-cut hopes, face a harder environment if the Fed stays frozen into 2026.
Mid-May 2025: Jerome Powell's final day as Fed Chair — watch for who is nominated to replace him and any policy signals from the incoming chair. Next FOMC meeting: scheduled for June 2025 — the first decision under new leadership. Monthly CPI and PCE inflation reports: key data that will determine whether the four hawkish dissenters gain or lose influence.
- JPMorgan's Michele says Fed could stay on hold through year-end · Investing.com
- Fed leaves rates unchanged at Jerome Powell's final meeting as chairman · CoinDesk
- Fed Leaves Rates Unchanged, Four Officials Dissent · Bloomberg
- Fed holds interest rates steady as Powell's final meeting as chair concludes · Quartz
- Federal Reserve holds rates steady ahead of Powell's expected departure · Manager Magazin
- Fed leaves interest rates unchanged in defiance of Trump's calls for cuts · The Guardian Business
- Monetary Policy: Fed holds benchmark rates unchanged at 3.5 to 3.75 percent – Will Powell remain Fed Governor? · Handelsblatt
- Jerome Powell's likely final decision: US Federal Reserve holds key rate at 3.5-3.75% · NZZ Wirtschaft
- Bitcoin, Ethereum Dip as Fed Holds Rates Steady for Third Straight Time · Decrypt
- Fed decision: US central bank holds benchmark rate steady · FAZ Wirtschaft
- Monetary policy: Fed holds rates unchanged amid significant disagreement over future rate path · Handelsblatt
- Wall Street: US stock markets decline as Brent crude reaches new 52-week high · Handelsblatt
- Monetary policy: Fed leaves rates unchanged – Powell remains regular member · Handelsblatt
- Gold extends losses after Fed holds rates steady amid four dissents · Investing.com
- Jerome Powell defies Trump one last time, holding rates steady as top economist notes hawkish shift · Fortune
- Fed holds rates steady, but board vote is most divided since 1992 · Investing.com
- Jerome Powell says he will remain on the Fed board after stepping down as chair · Quartz
- Powell says he'll stay at Fed as governor after his term as chair ends in mid-May · MarketWatch
- Powell Says He Has 'No Choice' But to Stay at Fed · Bloomberg
- Powell says he won't leave until DOJ investigation concludes, blocking Trump from another Fed appointee · Fortune
- US economy 'quite resilient', should keep growing above 2%, Fed's Powell says · Investing.com
- Wall Street: US stocks mixed – Brent oil rises to new 52-week high · Handelsblatt
- Fed Chair Jerome Powell says he will stay on as Governor after term amid legal pressure · CoinDesk
- Majority of FOMC saw no need to change easing bias in Fed statement: Powell press conference · Seeking Alpha
- US Fed holds interest rates steady amid sharp divide over policy easing bias · The Straits Times Business
- Fed's Powell says he will stay on as governor after chair term ends · Investing.com
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