Fed Internal Disagreement! New Taiwan Dollar Breaks 32.5, Central Bank Intervenes to Stabilize at 32.454

The Federal Reserve (Fed) maintained the interest rate at 3.5% to 3.75%, but three committee members voted against and advocated for a rate hike. The New Taiwan Dollar initially depreciated to 32.518 due to foreign exchange outflows but stabilized at 32.454 with central bank intervention. The Fed's rate decision caused the Dow Jones to drop over 1,100 points and the 30-year Treasury yield to reach a new high since 2007. The Fed will publish inflation reports before the September policy meeting and may raise rates before the autumn elections.