The Federal Reserve maintained the federal funds rate at 3.75%-4.00%, with two officials voting for a 25 basis point hike. The Fed kept its current policy stance with a 10-2 vote, with Governors Lisa Cook and Cleveland Fed President Beth Hammack dissenting, favoring a 25 basis point rate increase. The Fed stated that economic growth is strong, supported by capital investment, productivity gains, and resilient consumer spending, but inflation remains elevated. Policymakers emphasized that they will gather more economic data to determine the appropriate path for interest rates.