「Fed Watch」: Fed Keeps Rates Unchanged in 9-3 Vote, Marking First Three Descents Since 2016

July 30th, Nick Timiraos, also known as the "Fed's megaphone," stated that the Federal Open Market Committee (FOMC) of the Federal Reserve voted 9-3 to keep interest rates unchanged. Three regional Fed presidents voted against, advocating for a 25 basis point hike.

This is the first time since 2016 that the Fed has seen three dissenting votes in favor of a rate hike in the same monetary policy decision, indicating a growing hawkish divide within the Fed.