Federal Reserve keeps rates at 3.5% to 3.75%, 9-to-three split
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The Federal Reserve just voted to keep interest rates at 3.5% to 3.75%, but it wasn't a unanimous call: three top officials actually wanted a rate hike to fight rising inflation.
This nine-to-three split is the biggest disagreement inside the Fed since 2016, showing there's no clear consensus on how to handle the current economy.
Fed split over inflation growth tradeoff
Those pushing for a rate increase think stronger action is needed to get inflation under control right now, while others are worried about moving too fast with so much economic uncertainty.
The debate highlights how tricky it is for the Fed to balance fighting inflation with supporting growth, and hints that future decisions could be just as divided.