Fed holds rates steady at 3.5%-3.75% and removes cutting bias in Warsh's first meeting as chair
By
Jeff Cox
12h ago· 5 min readenNews
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Summary
The Federal Reserve, under new Chairman Kevin Warsh, held interest rates steady at 3.5%-3.75% during his first meeting. The FOMC voted unanimously to maintain the benchmark rate and notably removed language suggesting a bias toward future rate cuts. The policy statement was also significantly shortened compared to previous releases.
Key quotes
· 3 pulledKevin Warsh's first meeting as Federal Reserve chairman concluded Wednesday with no change in interest rates
The Federal Open Market Committee voted unanimously to keep its benchmark overnight borrowing rate anchored in a range of 3.5%-3.75%
the removal of key language indicating a bias toward future cuts, and a dramatically shorter policy statement
The Federal Reserve on Wednesday released its interest rate decision.
