Fed holds rates steady, two officials dissent in favor of a hike

The Federal Reserve held its benchmark rate in a 3.75%-4% range on a 10-2 vote, with Governor Lisa Cook and Cleveland Fed President Beth Hammack dissenting in favor of a quarter-point increase. The statement left the door open for a December hike. Chairman Kevin Warsh's press conference at 2:30 p.m. ET will be watched for signals on the path ahead.