The Federal Reserve on Wednesday held interest rates steady for the fourth consecutive meeting, but officials hinted at a potential rate hike later this year to combat the latest inflation spike tied to the war with Iran.
The Federal Reserve held interest rates steady for the fourth consecutive meeting but officials signaled a potential hike later this year.
New Fed Chairman Kevin Warsh faces an awkward position as President Trump appointed him to cut rates while most officials expect to raise them instead.
Warsh's first news conference as chairman will reveal his approach to monetary policy amid reduced tensions with Iran.
AI-generated summary was reviewed by a CNN editor.
Washington —
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