Fed policy decision generates most governor dissents since 1993

(Reuters) -The Federal Reserve's decision to hold interest rates steady following the end of a two-day policy meeting on Wednesday generated the largest number of dissenting votes by governors at the U.S. central bank in just over three decades. Governor Christopher Waller and Fed Vice Chair for Supervision Michelle Bowman cast votes against the decision to hold the central bank's benchmark overnight interest rate unchanged in the 4.25%-4.50% range, preferring instead to reduce it by a quarter percentage point. That marked the first time two members of the Washington-based Board of Governors formally dissented on a decision by the policy-setting Federal Open Market Committee since December 1993, according to data from the St. Louis Fed.