Federal Reserve holds interest rates steady in first meeting under new Chairman Kevin Warsh
By
Steve Kopack, Allie Canal, Brian Cheung, Maya Huter
11h ago· 4 min readenNews
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Summary
The Federal Reserve, under new chairman Kevin Warsh, held interest rates steady during his first rate-setting meeting. The Fed cited solid economic expansion despite uncertainty from the Middle East conflict. Chairman Warsh acknowledged that persistently high prices remain a burden for Americans, while the committee noted job gains have kept pace with the workforce. The decision was a unanimous vote.
Key quotes
· 3 pulledEconomic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East.
Persistently high prices are a burden for the American people.
Job gains have kept pace with the workforce.
Rising inflation and new Federal Reserve chairman Kevin Warsh take the stage as the central bank decides on the path forward for interest rates.
