The Federal Open Market Committee decided to maintain the benchmark interest rate within the target range of 3.5% to 3.75% at its policy meeting concluding on January 28th.
The vote resulted in a 10 to 2 tally.
Governors Waller and Milan cast dissenting votes, advocating for a 25 basis point rate cut.
The Federal Reserve indicated that the unemployment rate is showing some signs of stabilization.
The Fed kept the reverse repurchase rate at 3.5% and the discount rate at 3.75%.
The Federal Reserve stated that economic activity is expanding at a steady pace.
The Bloomberg Dollar Index maintained its upward trajectory.
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