The Federal Reserve left its benchmark interest rate unchanged for a third straight meeting Wednesday but signaled it could still cut rates in the coming months, moves that attracted the most dissents since October 1992.

The Fed kept its short-term rate at 3.6% and retained language in its statement suggesting the next move would be a rate reduction. Three officials dissented in favor of removing the reference to a future cut, while a fourth, Stephen Miran, dissented in favor of an immediate rate cut.

The dissents underscore the level of division on the Fed's 12-member rate-setting committee ahead of the departure of Chair Jerome Powell , whose term ends May 15.

The Senate Banking Committee approved his successor, Trump appointee Kevin Warsh , earlier Wednesday on a party-line vote.…