-- The Federal Open Market Committee maintained its federal funds rate target at 3.50% to 3.75%, as expected, but four officials dissented, its statement Wednesday afternoon showed.
Fed Governor Stephen Miran again sought a 25-basis-point rate. Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari and Dallas Fed President Lorie Logan supported holding rates steady but "did not support inclusion of an easing bias in the statement at this time," according to the statement.
There were few changes from the previous meeting's statement, keeping the focus on the committee's repeated pledge to adjust policy if risks emerge.
Recent comments from Fed officials have highlighted divisions over the direction of the next move, including some suggesting rates may need to rise. Those differences produced dissents at what could be Chair Jerome Powell's final meeting before Kevin Warsh is confirmed to succeed him. Analysts expect Warsh to be more open to rate cuts than Powell.
Powell's press conference begins at 2:30 p.m. ET.