Warsh Ushers In ‘Regime Change’ as Fed Holds Steady on Rates (opens in new tab)

In its first meeting under new Federal Reserve Chair Kevin Warsh, the Federal Open Market Committee held its benchmark rate steady, reflecting growing concerns about inflation among bank officials. All 12 voting members of the committee agreed to hold rates steady in a range of 3.5% to 3.75%, the first time in a year there was no dissent. About half of the officials at the two-day meeting forecast at least one interest rate increase this year. A notably brief post-meeting statement r