The Fed Held Interest Rates Steady for a 2nd Straight Meeting Under Kevin Warsh, With 3 Officials Dissenting. Here's What Investors Should Expect Next.

Federal Reserve Chair Kevin Warsh kept interest rates steady at 3.5%-3.75% for the second consecutive meeting on July 29, but faced a 9-3 dissenting vote—the highest dissent in a decade. Rising oil prices from Middle East geopolitical tensions are expected to push inflation higher in July's data, potentially prompting an interest rate hike at the September meeting. Warsh's reluctance to provide forward guidance makes it harder for investors to predict future Fed decisions.