The Federal Reserve (Fed) has decided to maintain its key interest rate at a steady 3.5%-3.75%. This decision was marked by the highest level of dissent since 1992, with Governor Stephen Miran dissenting in favor of a quarter percentage point cut. The other "no" votes came from regional presidents Beth Hammack of Cleveland, Neel Kashkari of Minneapolis, and Lorie Logan of Dallas. The last time four FOMC members dissented was in October 1992. The decision was the third consecutive meeting where the committee chose to stand pat, following three consecutive cuts last year. The most significant question is whether Fed Chair Jerome Powell will stay on board after his term ends in May.