The Fed Kept Interest Rates Steady, But It Was Not a Unanimous Decision

The Federal Reserve left interest rates unchanged, but stubborn inflationary risks and renewed energy market volatility keep pressure on the central bank to tighten policy later this year. (Credit: AFP)

The Federal Reserve left interest rates unchanged, but stubborn inflationary risks and renewed energy market volatility keep pressure on the central bank to tighten policy later this year. Three of the Federal Open Market Committee's members voted against the decision, which maintains the federal funds rate between 3.5% and 3.75%.

CNBC noted that those who voted no are Beth Hammack of Cleveland, Neel Kashkari of Minneapolis and Lorie Logan of Dallas. They were the most vocal about the need to increase rates.