Fed holds rates steady in Warsh's first meeting (opens in new tab)

The Federal Reserve held its benchmark interest rate steady at 3.50% to 3.75% on Wednesday in Kevin Warsh's first policy meeting as chair, marking a fourth consecutive pause and a unanimous decision by the rate-setting committee. New projections showed nine Fed officials expect borrowing costs to rise by the end of 2026, a shift from March, when no officials projected a hike and the committee projected one cut this year. Fed officials said inflation remained above the central bank's 2% goal, ...