VIEW Fed holds rates steady as three policymakers dissent for a hike

The Federal Reserve kept interest rates steady on Wednesday, a move that could intensify scrutiny of how Fed chief Kevin Warsh will meet his promise to bring inflation back to the 2% target. Market reaction was mixed: the S&P 500 briefly pared losses and was last down 0.48%, while the 10-year Treasury yield rose 3.9 basis points to 4.643% after initially falling. The dollar index slipped 0.31% to 101.11. Three policymakers dissented in favor of a hike, according to the report, with commentary pointing to differing member views and a still-focused debate on the inflation outlook, including supply-driven pressures.