Fed holds rates at 3.5%-3.75% as 3 officials back hike

The Federal Reserve left its benchmark rate unchanged at 3.5% to 3.75% on Wednesday, extending its pause for a fifth straight meeting even as three officials pushed for an increase. The 9-3 vote highlighted growing unease inside the central bank over inflation, which ran at 3.5% in June and remains above the Fed's 2% target. Chair Kevin Warsh said policymakers would keep watching incoming data, while acknowledging higher energy prices tied to the Middle East conflict have added uncertainty. Brent crude climbed more than 6% to above $89 a barrel. US stocks fell after the decision, with the S&P 500 hitting its lowest level in a month, the Nasdaq sitting about 9% below its June high and the Dow Jones Industrial Average dropping 2.19%.