Federal Reserve leaves interest rates unchanged at 3.5% to 3.75% after three straight cuts.

• Federal Reserve held interest rates steady at 3.5% to 3.75% after three consecutive cuts.
• Two Federal Reserve governors dissented, preferring a 0.25% rate cut due to concerns about the job market.
• The Fed upgraded its economic assessment from 'moderate' to 'solid' and noted 'some signs of stabilization' in the job market, dropping language about downside employment risks.

The Federal Reserve maintained interest rates at 3.5% to 3.75% following three prior cuts, a decision that saw some dissent from governors favoring a rate reduction due to job market concerns. The Fed upgraded its economic assessment to 'solid' and observed signs of job market stabilization, removing previous language about downside employment risks.