By Bryan Mena, CNN
Washington (CNN) — The Federal Reserve on Wednesday kept interest rates unchanged for the fifth consecutive meeting as it remains under intense pressure from President Donald Trump and his allies to lower borrowing costs.
The central bank left its benchmark lending rate at a range of 4.25% to 4.5%, where it has been since December, but the decision wasn’t unanimous. Fed Governor Christopher Waller and Fed Vice Chair for Supervision Michelle Bowman cast dissenting votes, marking the first time more than one Fed governor has dissented since 1993. They preferred a quarter-point rate cut instead, the Fed said.
The division among policymakers underscores the extraordinary and uncomfortable moment the Fed is in: Central bankers want to wait a little while longer for ad