Two dissenting votes emerged at the Federal Reserve's interest rate decision.
BlockBeats news, October 29: The Federal Reserve's October meeting passed the interest rate decision with a 10-2 vote (previously 12-0), with Hammack and Cook favoring a rate hike and casting dissenting votes.
Despite facing political pressure from the White House to cut interest rates, the Federal Reserve did not show any intention of cutting rates in its policy statement. At the same time, two officials unusually dissented from the decision to keep rates unchanged, calling for an immediate 25 basis point cut.