The Federal Reserve held interest rates steady Wednesday for the fifth meeting in a row as two Fed governors dissented, underscoring the division within the central bank over the potential impact of President Trump's tariffs.

Fed governors Michelle Bowman and Christopher Waller, who have signaled support for easing interest rates in recent weeks, voted against holding interest rates at their current level, marking the first double dissent by Fed board members since 1993.

U.S. Federal Reserve Chair Jerome Powell on Wednesday said there is no place for the central bank to consider government financing needs when setting interest rate policy.