The Fed is maintaining its benchmark interest rate in the range of 4.25% to 4.5%, where it's been parked since December.

The Federal Reserve held interest rates steady on Wednesday in a split decision that gave little indication of when borrowing costs might be lowered and drew dissents from two of the U.S. central bank's governors,

Federal Reserve Governors Bowman and Waller dissented from this week's decision to hold interest rates steady and explained why they would've cut rates by 25-basis-points.