🚨Federal Reserve holds interest rates steady amid resurgent inflation
The Federal Reserve on Wednesday left its benchmark interest rate unchanged, citing renewed inflation fueled by higher energy prices linked to the Iran war.
The Federal Open Market Committee (FOMC) kept the federal funds rate, which influences borrowing costs for consumers and businesses, at 3.5% to 3.75%, a move economists had widely expected.
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The meeting was the first led by Federal Reserve Chairman Kevin Warsh, who was chosen by President Donald Trump to succeed former chair Jerome Powell.
