The Federal Reserve held interest rates steady this week at 3.50%–3.75%, marking the third consecutive pause thisyear. While the decision itself was widely expected, the deeper story is one of healthy debate within the Fed: fourofficials dissented — the most in over three decades — reflecting genuine disagreement about how quickly inflation iscooling, particularly as global energy prices remain elevated amid tensions with Iran.

Market Commentary CIO: The Fed Holds…