Fed holds interest rates steady after cliffhanger meeting, but three officials dissent | CNN Business

• After one of the most unpredictable meetings in years, the Federal Reserve left its key interest rate unchanged Wednesday. • That uncertainty ahead of the outcome was reflected in what Fed Chairman Kevin Warsh called a “good family fight” among central bankers on the committee: Three Fed officials dissented in favor of a quarter-point rate hike. • Wall Street was left rattled. The Dow sank by 1,153 points and the 30-year Treasury yield hit its highest level since 2007 as investors worried the Fed was not acting quickly enough to bring down stubborn inflation. Our live coverage of the Federal Reserve’s July announcement on rates has ended. Read here for more analysis. Kevin Warsh has been Fed chairman for less than nine weeks, as he was keen to note several times in his press conference Wednesday. In that short tenure, we’ve learned that he’s a reticent guy. The word counts of the Federal Open Market Committee’s press releases have been slashed in half. He eschews any form of forward guidance that markets and business leaders have come to rely on under previous central bank leaders. It’s an interesting approach for someone whose primary job is communicating and