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Heather Long, industry influencer, reports that the Federal Reserve has maintained its target interest rate range at 3.5 to 3.75%, where it has remained since December.
Long highlights that the central bank's latest decision came with an 8 to 4 split, marking the highest level of dissent in a vote since 1992.
Recent labor data tracked by Long showed the U.S. hiring rate dropped to 3.1 percent in February, the lowest since April 2020. In March, she reported that the economy added 178,000 jobs as unemployment fell to 4.3 percent. These employment figures preceded the central bank’s latest rate decision.